The event acted as a platform for participants to know about industry best practices and benefits of Swift for corporates.

Swift and HSBC jointly organized the conference.

A large number of key clients, industry participants, subject matter experts and senior members of SABB, HSBC & Swift attended the event.

They discussed and deliberated on the latest developments and value additions/propositions offered by SABB as one of the largest "Swift for Corporates" service providers in the region.

Swift for corporate enables businesses to benefit from a wide variety of financial services (payments, treasury and security-related payments and reporting) being offered by their financial institutions through one single, highly secure, standardized communication platform, as opposed to using multiple channels.

Swift is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,700 financial institutions and corporations in 209 countries.

The internationally recognized standards of Swift continue to help businesses reduce costs, mitigate risks, increase visibility on cash flows, improve automation and compliance with increasingly complex regulatory environment.

It has also brought the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. 

Today, in an increasingly challenging global economic climate, corporates are looking at efficient working capital management solutions and this platform plays an important role in achieving the same.

Saudi Arabia is becoming more sophisticated and its corporates are looking at banking partners who can add value in terms of providing solutions that meet their evolving needs.

SABB, together with its global partner HSBC, provides an unparalleled combination to its clients looking at local, regional and global banking solutions cutting across all platform including Swift.