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.”
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.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.