SWIFT says 17 banks and two corporates have implemented its SWIFTNet Exceptions & Investigations application – a messaging system that updates management of payments and inquiries – since its initiation in September.
“Now that the SWIFTNet E&I solution has successfully reached production status, we and the rest of the banking community look forward to realising the substantial benefits it promises,” says Thomas Halpin, senior vice president, US Dollar Clearing Product Company Executive, JP Morgan Chase.
“We are confident banks and corporates will rapidly adopt E&I as they recognise it as a valuable tool for responding to payments related risk management issues,” adds Catherine Banneux, senior product manager for SWIFTNet cash management portfolio, banking industry division. “Customers will also be able to benefit from shorter turnaround times facilitated by a new generation of online “customer-self-service” offerings that incorporate the highest level of security.”