SWIFT said that its corporate treasury user community has surpassed 1,000 corporations for the first time. This is still well below the target SWIFT set itself of 5,000 corporates by 2015.
The financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries and territories added that there has been a rise in the number of corporates in Asia-Pacific joining SWIFT and this is the fastest growing region in terms of traffic. Samsung SDI, NTT Data Corporation, Toshiba and Rakuten are four of the corporations to have recently connected to SWIFT.
“We are proud to have reached the significant milestone of 1,000 corporates connected to SWIFT,” said SWIFT chief executive officer (CEO), Gottfried Leibbrandt. “We continue to evolve our offering for corporates, to ensure it brings value for the largest companies but also the smaller and mid-sized corporations that are increasingly benefiting from SWIFT to streamline their interactions with their banks. In line with our 2015 strategy, we look forward to welcoming many more corporates on to SWIFT in order to help them reduce their costs and risk, and increase operational efficiency and visibility in their treasury operations.”
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.