The implementation comes on the eve of the Central Bank’s 50th anniversary and as part of its strategy to strengthen the country’s financial markets and attract foreign investors.

The Central Bank says, “The implementation of this system is another example of the Bank’s steadfast commitment to strengthen the country’s competitive position in the local and international markets. By adhering to international standards and minimizing operational risk the Bank is better equipped to serve all the market participants and further growth”.

“SWIFT is pleased to support Uruguay’s Central Bank as they take the right measures to boost efficiency and reduce operational risk,” adds Juan Martinez, Managing Director, Latin America and the Caribbean, SWIFT. “The harmonization of payment systems based on international standards is a critical enabler to help local players stay at the forefront of the market’s globalization.”

SWIFT is pleased to support Uruguay’s Central Bank as they take the right measures to boost efficiency and reduce operational risk.

Juan Martinez, Managing Director, Latin America and the Caribbean, SWIFT

SWIFT has been working with financial market infrastructures for over 40 years and serves more than 230 FMI around the world across payments, securities and treasury markets, allowing them to process transactions, mitigate risk, and increase their operational efficiency.