Swift signs up 29 new corporates in Asia pacific

Source: Swift

SWIFT announces that 29 new corporates in Asia Pacific had joined the co-operative from May 2015 to December 2015.

SWIFT provides a single communication channel for corporates to exchange financial information with all their domestic and global banks. This allows corporations to gain value from additional global visibility and maximum efficiency from their financial and treasury operations. Through the connection with SWIFT, they are able to collect and achieve greater automation through standardisation.

Today, more than 1,500 corporate groups are already on SWIFT globally, representing an estimated 30,000 underlying legal entities that are using SWIFT to manage multiple banking relationships. The past year had results of a great expansion in SWIFT's engagement with its corporate customers. Compared to the first half of 2015, the second half increased its number of corporates who joined SWIFT by 50% making Asia Pacific the fastest growing region of new corporate connectivity. Besides the multi-national corporates we are also pleased to welcome Cgnpc and Max Money who have connected in order to take advantage of SWIFT for Corporates offerings.

Eddie Haddad, Managing Director, Asia Pacific, SWIFT says: "I am pleased to welcome more corporate groups to join SWIFT. We have been working very hard to assist corporates of all sizes to reduce costs, manage risks whilst increase operational efficiency and visibility in all of their treasury operations. With this new wave of corporate groups joining us, the benefits are clearly pervasive across treasury professionals and we are glad this offering is permeating across all segments in Asia Pacific."

The Overseas integration building Task Force Team of Lotte Duty Free says: "Lotte Duty Free is the top leading corporation in the Korean duty free business. As a global business player with operations in Asia Pacific and United States, we are currently aiming for a country by country roll-out plan targeting communication with all our banking partners through an automated environment to increase our efficiencies in operations and management. After a successful implementation in the Japan market, it had proven that having a SWIFT connectivity clearly benefited us. We are now able to gain global cash visibility, minimise operational risks, and align a single platform that enables communication to all our banks globally with distinct international standards. We expect that SWIFT will become a key business partner in our global business expansion".

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