SABB hosts conference on SWIFT
Riyadh, December 27, 2011
The Saudi British Bank (SABB) recently hosted a conference in Riyadh that acted as a platform for participants to know about industry best practices and benefits of SWIFT for corporates.
The conference "Gateway to the Financial World" on SWIFT for corporates, organised jointly with SWIFT and HSBC, was attended by a large number delegates to discuss and deliberate on the latest development and value additions / propositions offered by SABB as one of the largest 'SWIFT for Corporates' service providers in the region.
SWIFT for corporate enables businesses to benefit from a wide variety of financial services (payments, treasury and security related payments and reporting) being offered by their financial institutions through one single, highly secure, standardised communication platform, as opposed to using multiple channels.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,700 financial institutions and corporations in 209 countries.
The internationally recognised standards of SWIFT continue to help businesses reduce costs, mitigate risks, increase visibility on cash flows, improve automation and compliance with increasingly complex regulatory environment, a statement said.
It has also brought the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest, according to the statement. – TradeArabia News Service