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SWIFT certification and what you need to know


Starting a new business can be an exciting, taking a leap onto a new level. However, with that come the finer details such as regulations and laws that your company must abide by.

Along with that, ensuring your company is audit ready will bring peace of mind when the time comes to be audited. One of the items you will probably find important, especially for FinTech, is SWIFT. SWIFT is a ‘global member-owned cooperative and the world’s leading provider of secure financial messaging services’.

This article highlights a few of the details needed to be part of the SWIFT community.

First, one of the main benefits of SWIFT is its information security. SWIFT states it has an uncompromising approach to the security of your company’s information. Cyber security is on everyone’s radar, so showing your clients you are a member of SWIFT engenders confidence in your products and services. Transacting securely will also save on potential legal costs.

Secondly, SWIFT is a leading innovator in applying technology in the financial sector. When beginning a FinTech start-up, you will want assurance that you are partnering with the right people and are a part of the right community. A membership is useless unless it is credible and brings value to your company and clients, which SWIFT seems to take great pride in.

Lastly, being part of a well-known community brings the value of knowing there are many players in the same sector you can tap into. SWIFT’s data can be used to increase product value and give more information to SWIFT members. If you experience any growing pains, the odds are you can look to SWIFT and find details of contacts that have already found answers to the same problems.

Getting the proper certifications and memberships is crucial in building a reputable FinTech brand and service. People will gladly spend more money and time with a company that is well equipped in all facets of its business. Not only that, it will save you audit trouble later when you are questioned about your standards. FinTech continues to be a growing industry. Ensuring your business is well protected and ready for growth is more important now than it has ever been. 

Contact us today for help with getting certified for SWIFT transactions! 

Vladimirs Remi