Uruguay’s Central Bank modernizes its payments system with SWIFT
The Central Bank’s real-time gross settlement system is now live on SWIFT
This press release is also available in Spanish
New York, 25 October 2016 – SWIFT announced today that Uruguay’s Central Bank’s real-time gross settlement system (RTGS) is now live on SWIFT. The implementation comes on the eve of the Central Bank’s 50th anniversary and as part of its strategy to strengthen the country’s financial markets and attract foreign investors.
The Central Bank says, “The implementation of this system is another example of the Bank’s steadfast commitment to strengthen the country’s competitive position in the local and international markets. By adhering to international standards and minimizing operational risk the Bank is better equipped to serve all the market participants and further growth”.
“SWIFT is pleased to support Uruguay’s Central Bank as they take the right measures to boost efficiency and reduce operational risk,” adds Juan Martinez, Managing Director, Latin America and the Caribbean, SWIFT. “The harmonization of payment systems based on international standards is a critical enabler to help local players stay at the forefront of the market’s globalization.”
SWIFT is pleased to support Uruguay’s Central Bank as they take the right measures to boost efficiency and reduce operational risk.
Juan Martinez, Managing Director, Latin America and the Caribbean, SWIFT
SWIFT has been working with financial market infrastructures for over 40 years and serves more than 230 FMI around the world across payments, securities and treasury markets, allowing them to process transactions, mitigate risk, and increase their operational efficiency.
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging, standards for communicating and we offer products and services to facilitate access and integration; identification, analysis and financial crime compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.