GE on track for full SWIFT implementation

GE yesterday revealed that it was on track for full implementation of SWIFT, despite the foot dragging by some of its bank partners.

Steve Kalkowski, manager of GE's cash management systems, announced yesterday that the firm will have completed its full SWIFT implementation by the end of the first quarter in 2006. By this time it aims to have the entire company - all 6,000 legal entities around the world - operating from its web-based payment system, with SWIFT messaging as a core component of the platform.

Kalkowski was speaking on a panel discussion at yesterday's Sibos conference on corporate-to-bank integration. He explained how GE was looking to change the way it did payments which would involve changing the dynamics of the relationship GE has with its payment banks.

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