Swift India announced that Barclays selected it as a channel for payments, cash management, trade finance and treasury transactions for their corporate customers.
Eleven banks in India have already selected SWIFT India and are currently under implementation.
Over 220 of Barclays’ corporates clients globally are already on SWIFT and the India partnership is expected to help corporates in India consolidate their positions through a standardised approach and automate their exchanges with the bank to efficiently reduce complexity and risk. By bringing global standards to the local market, Barclays and SWIFT India are confident that they will help corporates use bank agnostic channels.
Pushkaraj Gumaste, Managing Director and Head of Client Coverage, Corporate and Investment Banking, Barclays India, said: “Our endeavour has always been to constantly enhance the banking experience of our clients, making the whole process of every-day banking transactions as seamless and hassle-free as possible. . We are confident that providing a secure and resilient network such as SWIFT based on widely accepted messaging standards will give Barclays’ customers the tools they need to seamlessly manage transaction complexity in a multi bank environment. ”
Mr Eddie Haddad, Managing Director, SWIFT Asia Pacific, adds: “Barclays has substantial experience on SWIFT for corporates globally and we believe with the support of SWIFT India they will be very well placed to serve their corporate clients in India. We see a strong demand from local corporates to drive automation and reduce complexity and risk. SWIFT India’s deep integration and automation of the exchanges between the corporates and their banks, combined to the levels of resiliency and security SWIFT offers, make it the best choice to answer these growing needs.”