New SWIFT chief plans for Australia
(26 September 2007 – Australia) The new chief of industry-owned co-operative, SWIFT, has outlined his plans for an upgrade to the transaction messaging services provided in Australia.
Lazaro Campos, chief executive officer, SWIFT, has detailed the co-operative’s plans for the development of cost effective communications between financial institutions and corporations in Australia.
Mr Campos said that the automated messaging service gives a single window into the accounts and finance of a corporate.
He added that trade finance, particularly with Asia will become more cost effective and that corporates will no longer have to carry the risks. Invoices can be confirmed on a secure and efficient messaging network.
Mr Campos also said that there is currently no funds automation solution worldwide and that their investment funds transactions solution will be a first.
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, based near Brussels, deals with trillions of dollars in global transactions daily supplying 8100 financial institutions in 208 countries.
Mr Campos said that the automated messaging service gives a single window into the accounts and finance of a corporate.
He added that trade finance, particularly with Asia will become more cost effective and that corporates will no longer have to carry the risks. Invoices can be confirmed on a secure and efficient messaging network.
Mr Campos also said that there is currently no funds automation solution worldwide and that their investment funds transactions solution will be a first.
SWIFT, the Society for Worldwide Interbank Financial Telecommunication, based near Brussels, deals with trillions of dollars in global transactions daily supplying 8100 financial institutions in 208 countries.
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