Industry initiatives

SWIFT supports the community by contributing to various industry-wide initiatives.

In industry initiatives

 Giovannini In its 2003 report, the Giovannini Group, as advisor to the European Commission, published a report identifying 15 barriers to efficient EU cross-border clearing and settlement...  MiFID MiFID gives investment firms an effective ‘single passport’, allowing them to operate throughout the European Union (EU) on the basis of authorisation in their home Member State.  SEPA SWIFT supports SEPA by developing standards and providing a set of products and services to facilitate operation and interoperability across the industry.
 TARGET2 TARGET2 is the new European Real Time Gross Settlement (RTGS) system which went live on 19 November 2007.  E–invoicing The European Commission estimates that electronic invoicing has the potential to save businesses approximately EUR 64.5 billion per year in Europe alone.  Distributed Architecture Moving to a multi-zonal messaging architecture to strengthen the resiliency and data protection in global financial messaging.
 InsuranceSWIFT is introducing its core value propositions to the world of insurance operations, starting with a service for firms involved in reinsurance and large corporate business, to deliver a platform for standards-based STP, under the sponsorship of an industry program called The Rüschlikon Initiative.