Traditionally, Swift’s involvement with non-financial institutions has been limited but now serious in-roads are being made to provide an easier way for corporates to benefit from the secure network.Frances Maguire reports.

Back in 1996, the board of Swift rejected the suggestion that corporates might use the bank-owned co-operative’s network to communicate with their banks, instead of the banks’ proprietary systems. Until relatively recently only a select number of multinational corporates were able to access Swift, and even then only to confirm foreign exchange transactions with their bank counterparties.

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