Kimberly-Clark (K-C) has selected Broadridge to be its global service provider for international banking communications across the SWIFT financial messaging network. K-C, known globally for its brand-name products such as Kleenex and Scott, will leverage Broadridge’s services to reduce costs and manual processes associated with supporting diverse bank payment infrastructures.
Broadridge’s SWIFT service provides two-way automated messaging between K-C’s business entities and its financial counterparties for the full SWIFT library, including payments, confirmations, trade initiation, securities, treasury, statements and other key business functions. Users without existing knowledge of SWIFT formats can input any type of message, which is then automatically transformed into the appropriate SWIFT format.
By joining SWIFT through the Broadridge service, K-C will be able to standardise its operational processes worldwide, leading to increased efficiency from a consistent, highly-automated and secure service. Additional benefits include:
- Advanced workflows enable K-C to monitor the full lifecycle of their messages via an up-to-date browser and create, release and re-route messages in a controlled STP environment.
- Rapid access to the SWIFT network for complete messaging capabilities.
- A secure and standardised data environment.
- Cost savings through a global messaging solution.
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.