Treasury centralization, liquidity management, operational expenditure management, data reference, trade finance, and e-banking have incessantly raised operational challenges for corporations. SWIFT (Society for Worldwide Interbank Financial Telecommunication) and other technology providers have built solutions to address most of the industry’s requirements, improve automation, and advance liquidity and capital management.
SWIFT provides global connectivity to institutions through its network and through services such as messaging standards, SCORE, SWIFTRef, KYC, and a single channel connectivity targeted at the industry’s needs. Despite such offerings, the adoption of technology has remained a matter of concern.
The paper presents SWIFT adoption challenges that the industry faces and the Infosys point of view highlighting greenfields.
Amit is a Senior Consultant in the Insurance, Cards & Payments (ICP) unit at Infosys. He has 10+ years of experience in Domain and Process Consulting, Business Analysis, and Application Development for several clients in the Payment Domain.
He can be contacted at email@example.com