The pressure to take costs out of transaction processing is proving to be an opportunity for SWIFT, which is gaining traction in North America among corporate users. At the same time, it also recently entered into a partnership with SmartStream to bolster securities processing.

Financial Insights says a survey of 230 corporates that do most their business in North America found that half are either using, evaluating or are interested in using the SWIFT for Corporates offering. The research firm says the adoption is being driven by the financial crisis and the development of the Alliance Lite interface, which allows Web-based access to the SWIFT network for a monthly fee. 

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