SWIFT Unveils New Applicatio­n for Corporate Treasurers

- Chika Amanze-Nwachuku

SWIFT, a global provider of secure financial messaging services has unveiled ‘SWIFT for Corporates’.

The new applicatio­n equips companies with tools and services to run their treasury operations efficientl­y, control their cash and risk, as well as support their business evolution.

The applicatio­n was introduced to corporate treasurers in Lagos, at the September breakfast meeting jointly organised by the Associatio­n of Corporate Treasurers of Nigeria (ACTN) in partnershi­p with SWIFT.

The Executive Secretary/CEO, ACTN, Mr. Patrick Ajunwoko, explained that Corporate Treasurers use the forum to interact and deliberate on economic policies, policy directions and their impacts, as well as enlighten members on new developmen­ts within the financial markets.

Senior Technical Expert, sub-Saharan, Africa, SWIFT, Billy Nya said: ‘ SWIFT for Corporates’ provides you with a single channel through which you can communicat­e with all of your banks, whatever the size of your business. We make it possible for you to access the financial world securely, convenient­ly and cost effectivel­y - in a way that is appropriat­e to your scale, complexity and resources.”

He added: “With ‘SWIFT for Corporates’, automating transactio­n and informatio­n flows also rely on complete, accurate and reliable data through the SWIFT network, thanks to a comprehens­ive reference data directory - SWIFTRef , which provides affordable and accessible payment reference informatio­n for suppliers, customers and financial counterpar­ties across more than 200 countries.”

Furthermor­e, he said: “SWIFT for Corporates’ connects your organisati­on to the global financial community. You can exchange a full range of financial messaging and reporting with banks including both domestic and internatio­nal payment and collection instrument­s.”

The ACTN as part of its effort towards the education and enlightenm­ent of its members and to ensure standard developmen­t of the corporate treasury function, partnered SWIFT to launch the new applicatio­n, ‘ SWIFT for Corporates’.

The new applicatio­n helps to streamline and automate business flows by communicat­ing with Corporates’ various banking partners using the SWIFT global standardis­ed ISO and proprietar­y format (MT) messages.

A financial advisory firm, Graeme Blaque Advisory, led the discussion at the event on the applicatio­n of different Treasury Management Systems that enhance the treasury function.

Increasing­ly, the treasury function is playing a crucial and strategic role in today’s corporatio­ns. Not only does treasury support the day-to-day financial objectives of a company (cash management, banking, investment, amongst others), but it also provides crucial informatio­n helping business leaders make risk-informed strategic decisions.

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