Microsoft Adoption Of SWIFTNet Will Raise Profile Of Corporate Membership Of SWIFT, Says Tower Group

New research from TowerGroup has examined the role of the Microsoft brand in driving corporate membership of SWIFTNet after the giant software company joined SWIFT. The research, entitled "Microsoft Standardizes Connectivity on SWIFTNet Drivers, Decision Process, and Implementation," says the

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New research from TowerGroup has examined the role of the Microsoft brand in driving corporate membership of SWIFTNet after the giant software company joined SWIFT.

The research, entitled “Microsoft Standardizes Connectivity on SWIFTNet: Drivers, Decision Process, and Implementation,” says the Microsoft brand will increase the visibility of SWIFTNet among corporate treasurers.

The Microsoft SWIFTNet connection, which started earlier this month with six pilot banks, is one of the most talked about global treasury initiatives currently in train.

“Microsoft’s dual role as a consumer of corporate banking solutions and a provider of technology to corporations and financial institutions makes its situation somewhat unique,” says Susan Feinberg, research director of the Wholesale Banking research service at TowerGroup and author of the research.

Microsoft itself holds 1,000 bank accounts at 100 different banks around the world, creating a daily challenge to manage the company’s assets in efficiently and securely. The last fiscal year showed $14 billion in net cash was generated, says the Tower report.

“While some may attribute self-serving motives to Microsoft’s vocal support of SWIFT solutions for corporations, the company is no doubt taking an active role in advancing an important agenda for the entire corporate treasury space,” adds Feinberg. “In its efforts to educate the corporate community about SWIFT — and to educate SWIFT about the needs of corporate clients — Microsoft is exerting influence on all stakeholders in the service of moving the needle on standards and automation.”

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