SWIFT announces that 29 new corporates in Asia Pacific had joined the co-operative from May 2015 to December 2015. SWIFT provides a single communication channel for corporates to exchange financial information with all their domestic and global banks.
This allows corporations to gain value from additional global visibility and maximum efficiency from their financial and treasury operations. Through the connection with SWIFT, they are able to collect and achieve greater automation through standardization.
Today, more than 1,500 corporate groups are already on SWIFT globally, representing an estimated 30,000 underlying legal entities that are using SWIFT to manage multiple banking relationships. The past year had results of a great expansion in SWIFT's engagement with its corporate customers.
Compared to the first half of 2015, the second half increased its number of corporates who joined SWIFT by 50% making Asia Pacific the fastest growing region of new corporate connectivity.