Payments and cash management

Economic changes in the payments landscape have forced the banking community to find new ways to reduce their operational costs, mitigate their liquidity risk and increase the revenue and efficiency of their core payment products. Under the pressure of regulators, the cash management service offering becomes more transparent to meet new customer expectations. While conforming to regulation is a must, service quality becomes a key differentiator.

SWIFT has developed offerings in payments and cash management to help the banking community meet these urgent challenges:

• Enhance customer service: automate exceptions and investigations in order to reduce enquiry turn-around time and to provide transparency on enquiry status to your customers, provide a compelling value proposition for wholesale payments to corporates or  person-to-person retail payments for immigrants (workers’ remittances) – including mobile payments.


• Improve liquidity and risk management: receive end-of-day as well as intra-day cash reports – information vital to get visibility on cash positions across your organisation and to improve liquidity management. In addition, SWIFT is considering extending its value proposition to include liquidity risk management tools.


• Increase operational efficiency and save costs: SWIFT’s single window allows you to rationalise your connectivity channels with:
  
  
  
  1. Correspondent banks for clearing and settlement of domestic or foreign currency payments using SWIFT’s payments clearing messaging services
  
  
  2. High value payments clearing and/or settlement systems operating on a real-time gross settlement basis using SWIFT’s secure and reliable FIN domestic services for high value payment market infrastructures
  
  
  3. Retail payments clearing systems using SWIFT’s cost efficient services for retail payments market infrastructures: the services help to clear “batches” of payments prior to settlement at discrete intervals, with or without netting.

More information 

• End-to-end transactions standards in the payments business area.