Swift, the international payment messaging group, has long sought to increase membership among "corporates" — corporate treasurers at large companies like Microsoft and Pepsi. Today, the group announced that more than 1,000 corporations have joined Swift's corporate treasury user community.
There has been a sharp rise in the number of corporations, such as electronics manufacturer Toshiba and information technology services firm NTT Data, in the Asia Pacific region joining the Society for Worldwide Interbank Financial Telecommunication, the group said Tuesday. In September, Swift announced plans to establish a new Asia Pacific corporate hub in Kuala Lumpur and Singapore and
Swift is a member-owned cooperative through which banking organizations and financial institutions exchange messages. It provides a multibank platform for corporations to exchange financial information with banks. This allows companies to improve efficiency in their financial and treasury operations by centralizing payments and collections and increasing automation, Swift said.
