Deloitte study: The real value and cost for corporates of connecting to your banks via a single window
The increasingly global nature of business means that companies of all sizes often deal with multiple banking partners spread across the world. Typically, this implies integrating with a variety of bank communication interfaces and channels. As a result, treasurers and/or credit managers have to deal with significant operational burdens, often done manually to get an accurate and global view on liquidity and liability across their portfolio.
The various methods to interface with banks ranges from basic proprietary electronic banking applications, to customised host-to-host applications and, more recently, API integrations. As a business critical function, the security of a bank interface is of paramount importance for securing the associated data flows. The different interface options in the market place offer varied levels of security and reliability, which is a key consideration for any organization when selecting which option to use.
By implementing Swift, Corporates benefit from a single highly secure and reliable window to communicate with all their banking partners using global standardised financial messages. This brings key benefits such as:
- central visibility of cash positions,
- decreased operational risk and costs,
- increased automation levels with integration possibilities to connect to a business’s existing systems
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