Timing of migration to SWIFTNet is key issue for corporates, believes Eiger Systems

Rugby, UK - 12 April 2007

Eiger Systems, an Experian® company and a leading developer of strategic payment solutions, has published a new White Paper on SWIFT connectivity for corporates. ‘SWIFTNet for Corporate Treasurers: exploring the business case’ traces the evolution of corporate connectivity to SWIFT and discusses the issues to be addressed if SWIFT adoption is to achieve mass-market momentum. The paper concludes with advice on how corporates should evaluate SCORE, the Standardised Corporate Environment (1) that corporates will use for SWIFT connectivity.

Author Jonathan Williams, Eiger Systems’ Principal Market Strategist, believes that the central issue for corporates contemplating SWIFT connectivity is timing:

“The business case for SWIFTNet needs to consider a number of issues, not least a detailed assessment of which bank services will be provided by all their banking partners and when. Legacy system integration is a second area that corporates should assess carefully. Failure to recognise the true cost of integration could undermine the potential gains of SWIFTNet considerably. In short, few corporates will need persuading that SWIFTNet is a good idea per se, but the key issue will prove to be timing. Migrating too early may incur the penalty of a lower than forecast return on investment. SWIFTNet for corporates is one innovation where being an early adopter may benefit only a few organisations.”

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