SWIFT in payments and cash management

Regulatory and economic changes in the payments landscape have forced the banking community to find new ways to reduce their operational costs and generate additional revenue. As the cash management service offering becomes more transparent, customer expectations increase. Conforming to regulation is a must, and service quality is a key differentiator.

SWIFT has developed new solutions to help meet these various urgent challenges. Bulk Payments, Cash Reporting, Workers' Remittances and Exceptions and Investigations together aim to cover the needs across the transaction life-cycle from payment initiation and processing to reporting, exceptions and investigations. Interoperability is also guaranteed across the market players: corporates, commercial banks, central banks and market infrastructures.

A combination of all the SWIFT's solutions for payments and cash management will dramatically improve end-to-end straight-through processing, leading not only to large cost reductions but also to higher levels of customer satisfaction.

SWIFT's solutions for payments clearing provide messaging solutions for high and low value clearing and settlement systems worldwide and respond to the market infrastructure need to have secure, reliable and proven messaging solutions provided by a trusted third party.  In the same context SWIFT also actively supports its members and customers in their implementation of a Single Euro Payments Area - SEPA by developing standards and providing a set of products and services to facilitate operation and interoperability across the industry.

SWIFT for corporates help banks to focus more on their customers’ business needs and less on daily operational issues. SWIFTNet, the single window they use to communicate with their correspondents, can also be used to deliver services to their corporate customers. From the corporates point of view, they gain a highly secure, integrated and standardised channel which they can use to communicate to their banks globally.