The Gateway to Algorithmic and Automated Trading

SWIFT launches institute to finance research into global transaction banking

First Published 25th April 2012

SWIFT Institute formed to seek solutions to pressing industry issues

Brussels - SWIFT, the financial messaging provider, has announced the launch of the SWIFT Institute, a new body dedicated to fostering research and disseminating knowledge and information about the financial services industry, with a particular focus on transaction banking.

The Institute, based at SWIFT's HQ near Brussels, will fund and publish independent research and bring together academics and practitioners to inform, debate and learn from each other. The research will be conducted by academics and senior industry professionals.

Yawar Shah, SWIFT Board Chairman and COO, explained, "SWIFT is stepping up to the requests of the banking industry, especially from the leaders of the global transaction banking businesses, to foster research in this important area to assist with thought leadership on key strategic matters. It is a limited but important initiative for SWIFT in its role as a global, neutral, trusted third party."

The research will cover various aspects of transaction banking, including the following areas:

  • Payments
  • Clearing / Settlement
  • Cash Management
  • Trade Finance
  • Trust and Securities

The SWIFT Institute, which SWIFT will fund and staff, will work with researchers globally who have a proven record in financial research. The first research grants to be issued by the Institute will cover three topical areas:

  • RMB internationalisation
  • Financial supply chain management
  • Banking inclusion

"The Institute will focus on areas of the financial infrastructure that can benefit from greater understanding and improvement," said Professor Ron Berndsen, one of the new Institute's Advisory Council members. "Our goal is research that will ultimately benefit the financial services industry, and its underlying customers."

"SWIFT is uniquely placed within the financial industry to lead such an initiative, as it is owned and used by the industry globally," said Lázaro Campos, SWIFT CEO. "Bringing the SWIFT community and academics together to explore ideas, share knowledge and extend mutual understanding is an important part of our mission."

An advisory council comprising academics, central and transaction bankers will oversee the Institute's research priorities. Confirmed members so far include:

  • Professor Dr R.J. (Ron) Berndsen, Head of Oversight Department, Cash and Payment Systems Division, De Nederlandsche Bank and endowed professor of Financial Infrastructure and Systemic Risk at Tilburg University
  • Sir Howard Davies, Professor of Practice. French School of Political Science (Sciences Po)
  • Darrell Duffie, Dean Witter Distinguished Professor of Finance at Stanford University Graduate School of Business
  • Dr Guillermo Ortiz Martinez, Chairman of Grupo Financiero Banorte-IXE
  • John Trundle, CEO, Euroclear UK and Ireland
  • Yawar Shah, SWIFT Board Chairman and COO, Customer Intelligence, Citigroup
  • Lázaro Campos, SWIFT CEO