Swift announces major changes to system

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The payments consortium Swift will upgrade its system to provide “comprehensive transaction management services” over the next two years, it announced today (September 17).

Swift says the upgraded system will enable “seamless transactions from one account to another anywhere in the world with end-to-end transparency and predictability”. The decision to move beyond providing financial messaging is part of its board’s new strategy, Swift says in a statement.

Financial institutions will be able

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