A revolution is currently sweeping the world of SWIFT. For the last 25 years, membership of SWIFT has been almost exclusively restricted to banks, financial institutions and broker dealers. Members have been making payments and settling other financial transactions between each other through the SWIFT network. Now, this network is being opened up to corporates. The changes are largely generated by the new means of communication made available by the Internet and have considerable implications for corporate treasurers and their companies.
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