Bank-to-bank co-operative Swift is to extend its business intelligence portfolio to build a dynamic correspondent banking dashboard, which will provide users with actionable insight into their transaction data and performance metrics.
The product is an extension to Swift's Watch suite of data reporting products, which is already used by 160 institutions worldwide to harvest traffic data for further reporting and analysis.
Watch Insight - which is slated for release in mid-2012 - goes beyond the raw data to offer self-populating pre-defined views of a bank's business traffic flows relating to cash management, trade finance, relationship management and operational efficiency.
Business users will also be able to access market share information across a range of criteria, including geography and currency, and compare it with peer performance data.
Swift says additional reporting modules are planned for securities industry and corporate network users.