For many years, treasurers have been demanding access to the SWIFT inter-bank network. While a small number of treasurers of large multinational companies have been able to use the SWIFT format for communicating with banks, they employed different networks and levels of security. SWIFTNet changes all this, it employs a ‘single window' connectivity providing a single communications infrastructure. Access to SWIFTNet ensures unprecedented reliability, security and rapid interaction with the SWIFT network for corporates communicating with their banks.
SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a worldwide community. Over 7,000 financial institutions in 197 countries connect to one another through SWIFT. Collectively, these institutions, active in payments, securities, treasury and trade services, exchange over 7 million messages valued in trillions of euro every business day.
About BNP Paribas Cash Management
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with leading positions in Asia and a growing presence in the United States. It is the number one bank in terms of market capitalisation and 2001 net income in the euro zone. The group has one of the largest international banking networks throughout 85 countries and has over 85,000 employees worldwide.
The Cash Management Business Line brings together 200 specialists in Paris and 300 cash management experts throughout the bank's French and international network. BNP Paribas provides a full range of international cash management solutions : information reporting and payment instructions, e-business services and liquidity management solutions (physical and notional cash pooling). In addition, the group has formed bilateral partnerships with other large banking groups. This opens a network of over 10,000 branches to BNP Paribas' corporate clients and ensures the banks' position as a leading player in international cash management.