Collaborating with the local financial community… and the road ahead

SWIFT India has launched a series of roadshows for banks and corporates across the country covering 12 major cities.

Mumbai, 2nd January, 2015 - SWIFT India further strengthens its collaboration with the local financial community by organising the roadshows to promote its domestic messaging services. The Bank’s and the Corporate’s workshops were first kicked off on 18th November 2014 in Mumbai. Following this, SWIFT India’s awareness campaign will be extended to cover other metropolitan cities (including Kolkata, Bangalore, Chennai, Hyderabad and Delhi) and major cities (including Ahmedabad, Surat, Kochi and Pune) across the country.

The workshops were hosted along with the Indian Banking Association (IBA) and their member banks demonstrating strong collaboration with the local financial community. There are a total of 12 bank’s workshops and 9 corporate workshops scheduled.  Participation in the roadshows has been very positive among the local financial community. Topics of discussion included the support of local interfaces, third party interfaces, domestic BIC routing and pricing plans.

 

Mr Saqib Sheikh, COO of SWIFT India, shared the insights on SWIFT India’s value proposition, targeted market segments as well as product and services available in different phases. Mr Sheikh also discussed the role of SWIFT India as a highly reliable, secure and efficient channel for end-to-end solutions in the domains of Payments & Cash Management, Trade Finance and Treasury.
Mr Arun Tiwari, CEO of SWIFT India, highlighted that the SWIFT India’s channel can be enabled by banks, corporates and financial market infrastructures. Mr Tiwari also provided more details on the exclusive features of SWIFT India’s enablement package and the minimum components required for the SWIFT India connectivity, which are useful information for customers to sign up for its services.

SWIFT India will go live with its local SWIFTNet platform and domestic messaging services on 1st of February 2015. In the first wave, SWIFT India will provide comprehensive messaging services for the high and low value payments, interbank trade finance and treasury and corporate-to-bank payments and cash management, trade finance and treasury market segments.

These roadshows are a fantastic opportunity for the local financial community to learn more about SWIFT India and the value it offers in domestic financial messaging across different business areas.