The Society for Worldwide Interbank Financial Telecommunication, better known as Swift, is the accepted leader in intra-bank electronic messaging. Three years ago the group launched its trade services utility TSU in response to changes in trade payment practices. The move paid off and today the utility has cornered the market for open account transactions.
Swift's Asia-Pacific head of trade and supply chain markets, Connie Leung, sat down with FinanceAsia to discuss the company's latest TSU enhancement and the growth of the utility in Asia.
Please describe Swift's trade services utility.
The trade services utility, we call it the TSU, is a matching engine for the banks. We started creating it in 2005, launched...