Swift announces that Shinhan Bank has recently been awarded an advanced bank-readiness certification from Swift.
In response to on-going corporate needs to communicate with their banks in a globally standardised and streamlined method, Shinhan Bank recently enhanced their technical capabilities to serve corporates over the SWIFT platform. This was a significant milestone for the bank as they can now effectively compete with their global and regional peers to win more corporate relationships while addressing their cash management needs in a cost-effective way.
Bu Ki Park, General Manager, Shinhan Bank, stresses the importance of the SWIFT bank-readiness certification for all banks, "Corporates need to work with a bank that has the experience, expertise and value- added functionality that will help enable them to achieve their cash and liquidity management goals. These criteria should be paramount when corporates fine-tune their banking relationship selection process. We believe it is essential to implement SWIFT's best practices as this reinforces our leading position in the Asia Pacific region."
Stella Lim, Head of Corporate Sales, Asia Pacific, SWIFT, comments that, “In this competitive environment, in order to provide corporate customers insight into the SWIFT readiness of their banking partners, it is essential that banks are certified with SWIFT’s bank-readiness certification programme. Certification gives corporate customers a clear view on the SWIFT capabilities of their banking partners around the world. We are happy to award Shinhan Bank with the advanced bank readiness certificate and glad that SWIFT was able to assist them in their global expansion plans.
Shinhan Bank has recently announced its plans to expand their business regionally and globally, marking their debut presence in Mexico, Australia, the Philippines, and Dubai, in response to its growing base of international corporate clients. The Korean bank, which currently already has 15 existing branches, has turned to SWIFT for their line of products and services which can help them improve cash management service for their corporate clients.
SWIFT offers a wide range of products and services for multi-banked corporates, including: Liquidity Management, Cash/Payment Management, Treasury Management, Trade & Supply Chain Finance, and Equity/Commodities Management. By connecting to SWIFT, corporates can enjoy global visibility on cash and trade, lower cost of financial transactions, and improved security and reliability. To learn more about SWIFT for Corporates, please visit http://corporates.swift.com/
SWIFT has been operating in Asia Pacific for over 30 years and currently has nine offices across the region, including, Hong Kong, Singapore, Kuala Lumpur, Seoul, Tokyo, Sydney, Beijing, Shanghai, and Mumbai.