SWIFT Unveils New Application for Corporate Treasurers
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.