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SWIFT

SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 9,000 banking organizations, securities institutions and corporate customers in 209 countries trust it every day to exchange millions of standardized financial messages.

SWIFT has its headquarters in Belgium and has offices in the world's major financial centers and developing markets. As a data carrier, SWIFT transports messages between two financial institutions. This activity involves the secure exchange of proprietary data while ensuring its confidentiality and integrity.

Financial transactions are automated and standardized with the help of SWIFT. It lowers costs, operational risk and eliminates inefficiencies from the operations. SWIFT enables us to reach almost every part of the globe for servicing the needs of our customers in speedy and cost effective manner.

SWIFT helps us connect and exchange financial information related to customers’ transactions securely and reliably. It makes transfer of funds possible from any part of the world within the Financial Institutions within 24 hours. We have our correspondent Banks in almost every country and we cater to International Trade related needs of our customers by way of establishing Letters of Credit (LC), Guarantees and Letters of Comfort.

Using SWIFT, we assure our customers following benefits:

  • Extended reach: SWIFT helps us get direct access to the worldwide financial community for completing end-to-end transaction chain. It also reduces the potential risk of working with a unique correspondent by having alternative providers that we can reach cost effectively.
  • Improved customer service: we get an end-to-end view on payment transactions and enquiries which eliminates the “black hole” issue for the customers. We achieve a shorter payments cycle and an expedited resolution of any enquiries.
  • Improved operational efficiency: by connecting directly to SWIFT, we have a secure gateway to the financial community worldwide. We keep network connectivity, security and running costs to a minimum.

** For further details, contact any of our branches in Uganda