SWIFT Completes Three-month Pilot Phase of SCORE
SWIFT has announced that its enhanced corporate to bank access model is live and commercially available after a successful three-month pilot. Called SCORE (Standardised CORporate Environment), the new access model is for any corporate listed on a regulated stock exchange in a FATF (Financial Action Task Force) member country. SCORE enables corporates to interact in a standardised way with participating SWIFT financial institutions. SCORE pilot programme participants included Alstom, Arcelor Mittal, CIBA, Danone, Gaz de France, General Electric and Microsoft, together with ABN Amro, Bank of America, Barclays, BNP Paribas, Citigroup, Deutsche Bank, HSBC, ING, JPMorgan Chase, Nordea, Société Générale and UBS. The initial focus of SCORE will be on cash management and treasury. Additional bank services such as exceptions and investigations, trade services and investment services are expected to follow.