SWIFT turns securities traffic data into valuable business insights for its customers
Brussels, 10 June 2015 - SWIFT announces the availability of Watch for Estimating, a new business intelligence solution that helps securities market participants to monitor and gain valuable business insights from their network traffic. Following the completion of a successful early adopter programme, SWIFT's Watch for Estimating is ready for full scale use by local and global custodians, investment banks, asset managers and broker/dealers.
The new Watch for Estimating solution builds on SWIFT's existing business intelligence portfolio traditionally focused on payments. The new solution covers settlement and corporate actions flows primarily used to facilitate cross border transactions between global custodians and investment banks and their counterparties including local agents and asset managers. Watch for Estimating provides securities market players with additional independent and monthly aggregated global traffic information saving financial institutions the time and effort of gathering that same data from multiple proprietary systems and locations. The analytics provided by Watch for Estimating enables financial institutions to measure and benchmark their own activities with the overall activity on SWIFT, segregated by client type.
"Driving business performance from data is no longer just a "nice-to-have," says Stephen Gilderdale, Head of New Business Development at SWIFT. "With massive amounts of unstructured data available, many financial institutions need to find new ways to turn data into meaningful business insights. Based on our highly structured data flows, SWIFT has been providing business intelligence services to payments customers for ten years. We are pleased to evolve and extend this service to our securities customers, particularly in the areas of corporate actions processing and settlement services."
"The business intelligence tools from SWIFT, including Watch for Estimating, help our customers make better use of their data to measure and benchmark their performance versus the market," adds Fabian Vandendreydt, Head of Markets Management, Innotribe and the SWIFT Institute at SWIFT. "Through Watch for Estimating customers can obtain valuable insights into how securities markets are evolving, and their share of activity in particular markets. The tool also measures the relative efficiency of a customer's operations against the market as a whole."
About SWIFT's Business Intelligence portfolio
Launched in 2005, SWIFT's Business Intelligence (BI) portfolio encompasses an entire suite of intuitive tools including analytics, insights, consulting services and economic indicators designed to grow with customers' business needs. The current portfolio includes; Watch Analytics, a platform to analyse and report traffic volumes, value and currency by market, message type and region especially focusing on Payments, Trade Finance and Foreign Exchange markets; Watch Insights, visual and business-oriented dashboards on a subset of correspondent banking traffic; BI Consulting Services bringing value beyond the data, and SWIFT Economics, economic indicators for Gross Domestic Product and Renminbi, also known as the SWIFT Index and RMB Tracker.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in more than 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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