Two new publications from SWIFT and the definition of best practice guidelines for the offshore RMB market - plus a series of sessions during Sibos focusing on RMB - demonstrate SWIFT's commitment to helping customers benefit from RMB internationalisation.

Patrick de Courcy, Head of Markets, Asia Pacific, SWIFT, says: "The internationalisation of the RMB is of historical significance, and the pace of development is very rapid. Our priorities are to help our customers make the most of the opportunities it creates, and to deliver the standards and platform that will support this process. The intelligence we are making available at Sibos and the discussions we will have here will help banks to both optimise their RMB strategies and ensure that their resulting businesses are as automated, efficient and profitable as possible."

Strategic insights and new data to grow your business

In a new white paper, RMB internationalisation: Implications for the global financial industry - created with key contributions from Bank of China, Citi, Deutsche Bank, HSBC, ICBC and Standard Chartered - SWIFT explores the progress of RMB internationalisation to date and examines the opportunities and threats that this development creates for banks.

In addition, a new Business Insights report provides a unique set of data that has never before been accessible to the community and which will help banks make informed decisions about where, when and how to pursue business opportunities related to the RMB. This report has been created using information about actual RMB transactions going over SWIFT, with data extracted using SWIFT's Watch Business Intelligence tool.

Wim Raymaekers, Head of Banking Markets, SWIFT, says: "If your institution is active in the international markets, you have little choice but to formulate an RMB strategy. Our Business Insights report enables our customers to spot new revenue opportunities and identify countries to develop their RMB payments."