The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has chosen business intelligence (BI) software provider MicroStrategy as its enterprise business intelligence and analytics standard.
Under the agreement, MicroStrategy will anchor SWIFT’s BI service offering that is used by participating banking organisations, securities institutions and corporate customers worldwide and at SWIFT headquarters.
MicroStrategy will power the company’s BI system, allowing the global financial community to track and analyse interbank payment message traffic flowing through the SWIFT network.
With MicroStrategy, banks and corporations will be able to monitor underlying value and currency flows and better understand their position in the market, track sales performance, manage counterparty risk and enhance operational efficiencies by identifying targets for cost savings.
MicroStrategy chief operating officer Sanju Bansal said MicroStrategy is delighted that SWIFT has chosen MicroStrategy to provide financial institutions worldwide with fast and direct access to business analytics through the use of user-friendly dashboards, interactive reporting,and innovative mobile apps that extend network intelligence to iPad, iPhone, BlackBerry, and Android devices.
"The agreement signed between MicroStrategy and SWIFT helps to improve the business intelligence system that monitors nearly every financial interbank message in the world. We look forward to supporting SWIFT with a secure BI infrastructure that will help SWIFT and the global financial community operate their business and messaging performance more efficiently and reliably," said Sanju.
