The SWIFT accreditation for payments recognizes that Money Transfer System supports SWIFT’s requirements for the processing of payments. ACI has also integrated the updated SWIFTRef directories within Money Transfer System.
In addition, ACI Global Trade Manager has achieved the 2013 SWIFT Certified Application Supply Chain Finance. The label is granted to trade finance applications supporting SWIFT Trade Services Utility (TSU) messages and workflows. Global Trade Manager is designed and built according to TSU standards and is compliant with TSU Release and the SWIFT Bank Payment Obligation (BPO), enabling open account services.
According to SWIFT, nearly 80% of global trade is now conducted using open account. Global Trade Manager offers financial institutions the ability to meet the high demand for open account services.
In recent news, Asian financial services group DBS and ACI Worldwide have joined forces to deliver an online banking platform to corporates in Asia.
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