How BNP Paribas and BASF are streamlining their KYC information collection process
Requirements for customer due diligence are filled with complexity and nuance. To understand the Know Your Customer (KYC) challenges faced by both banks and corporates alike, we caught-up with industry experts from BASF and BNP Paribas for their respective insights. They shed light on their specific learning points and how Swift’s KYC Registry is helping them streamline the collection of KYC information.
Enabling payments transformation in North America
The march towards instant digital payments is changing the way that banks and financial institutions operate, collaborate, and compete. Although efficiencies can be gained from this transformation, there is also work to be done to take advantage of the opportunities and better serve customers in a rapidly evolving digital landscape.
Africa payment series – a view from the South African Reserve Bank
Facilitating inter-regional payment flows
Market participants embrace the direct route to T2S as 2015 deadline approaches
As activity among market participants choosing to directly connect to T2S intensifies, new Swift research looks at the benefits of taking the direct route to T2S and the opportunity to build new business models, access new markets more easily and deliver new services to clients, which are being explored by the first wave of pioneering Directly Connected Participants (DCPs).
Will Europe overtake Asia in RMB trade settlement?
Brussels, 29 October 2013 - When RMB trade settlement was opened up in June 2012 for any corporate in the world, adoption was to start regionally in Asia and then expand to Europe, the Americas, Middle East and Africa. That may have been so. Recent Swift data however shows that RMB customer payments - a good proxy for trade settlement - in Europe grew by 163% over the last year, much higher than the 109% observed in Asia (excluding China and Hong Kong) in the same period. Growth in Europe was…
A year to go: How the securities industry is preparing for T+1
In many markets around the world, T+1 is coming your way – or could be soon. As more markets look to shorten their securities settlement cycles, Simon A.X. Daniel, Product Manager at Swift, spoke to Virginie O’Shea, Founder of Firebrand Research, about what this means for the securities industry and how firms are getting ready.
Efficient customer due diligence is key to improving corporate customer experience
As the requirements for customer due diligence across the world become more complex, Bart Claeys, Head of KYC at Swift explains how banks can ease the burden on their customers by adopting the latest Know Your Customer (KYC) technologies, and can reduce costs and free up resource in the process.
3SKey enables reduction of costs in security solutions by up to 40%
Brussels, 22 October 2012 – Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, today released an information paper that takes a closer look into the real costs associated with building and running a PKI solution. The paper focuses on the findings of a cost study conducted by SEALWeb, an independent consultancy firm specialised in PKI implementations. It exposes the hidden costs for financial institutions to build and maintain a…
European hubs are fuelling RMB Internationalisation
Brussels, 26 August 2014 – Swift’s latest RMB Tracker shows that Europe represents 10% of Renminbi payments worldwide in value. For the past year, four European countries have been settling into the top 10, excluding China and Hong Kong. The United Kingdom leads Europe with 123.6% growth between July 2013 and July 2014, followed by France (+43.5%), Germany (+116%) and Luxembourg (+41.9%). Since July 2013, European payments directly exchanged with China and Hong Kong in RMB have increased by 105…
A year of progress: Enabling a better cross-border experience for all
In 2020, the G20 made improving the cross-border movement of value a key priority. Here, we unpack some of the progress we’ve made in 2022 to help shape that future.