Join the Community

21,733
Expert opinions
43,783
Total members
487
New members (last 30 days)
190
New opinions (last 30 days)
28,602
Total comments

SWIFT not getting it at EBA Day

1 comment

SWIFT have been making lots of noise about getting corporates connected to their network. Sounds good and with SWIFT lite they appear to have a solution which has a cheap user charge for small or medium corporates however, costs are there and can be considerable.

Firstly connecting to SWIFT lite by integrating to whatever legacy treasury system is used means cost. Secondly to gain the knowledge required looks like consultancy and cost. Thirdly to produce the end solution that fits the payment bank requirements is costly to run and of course there are also the bank's costs.

Although a bank might reduce costs for SWIFT connectivity for a small to medium sized corporate,  the overall costs still look very high and prohibitive in taking part.

There is more work to be done on this by SWIFT and I suspect their banks and vendors before this offering becomes attractive to corporates. That's the way it looks at EBA day at least.

 

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

21,733
Expert opinions
43,783
Total members
487
New members (last 30 days)
190
New opinions (last 30 days)
28,602
Total comments

Now Hiring