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SWIFT for CorporationsSecure and reliable exchange of financial messages

RABOBANK AND SWIFT:Worldwide standard for exchanging financial data

SWIFT OFFERS TWO TYPES OF SERVICES: SWIFT FINand SWIFT FileAct.

SWIFT for Corporates information and implementation

Rabobank2 | SWIFT for Corporates

SWIFT for Corporates is a solution for corporates and financial institutions that operate internationally and interact with

a range of banks for operational cash management.

With its virtual distribution channel SWIFT for Corporates, Rabobank provides support for corporates and financial institutions that use SWIFT as a channel for the fast and secure ex-change of instructions and reporting information with various banks throughout the world. A solution for companies and financial institutions that operate internationally and interact with a range of banks for settling their transactions. SWIFT for Corporates will also help insti-tutions to standardise their processes and systems landscape for their financial transactions.

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Rabobank

Rabobank and SWIFT: Worldwide standard for exchanging fi nancial data

Rabobank SWIFT for Corporates | 3

SWIFT (Society for Worldwide Interbank Fi-nancial Telecommunication) was established for exchanging fi nancial messages between banks. The network used by SWIFT for that purpose – SWIFTNet – provides a secure and reliable way for sending and receiving data. With its Swift for Corporates connec-tion, Rabobank is off ering a product for companies and fi nancial institutions that carry out large volumes of transactions on a regular basis. The key reasons for corporates, pension funds, banks and asset manag-ers to get connected to SWIFTNet are: standardisa-tion, effi ciency, autonomy and security. Using SWIFT means that maintenance and adjustments for bank-specifi c electronic banking packages, banking pro-cesses and diverging formats are no longer required.Corporates and fi nancial institutions are less depend-ent on specifi c banks as a result. The SWIFT messag-ing standards apply worldwide.

SWIFT has existed since 1973 and is an inter-national cooperative organisation for the fast, reliable and secure exchange of fi nancial mes-sages. Today, over 10,000 fi nancial institutions from 212 countries are connected to SWIFT. Every day, millions of fi nancial messages are sent all over the world via SWIFT.

What is SWIFT?

The advantages of SWIFT via Rabobank:

- One standard- Lower risks and costs - Not dependent on specifi c banks- Effi ciency/cost benefi ts

Companies and fi nancial institutions that are connected to SWIFT have a link to various banks via their ERP package or Treasury Management System. Therefore they no longer need to adapt their processes, formats and/or systems to fi nancial packages for electronic banking. SWIFT for Corporates supplements the other Rabobank distribution channels for cash management: RIB-PRO, RCM and ATT.

How does SWIFT work?

Rabobank4 | SWIFT for Corporates

SWIFT offers two types of services: SWIFT FIN and SWIFT FileAct.

This is the oldest product on SWIFTNet. SWIFT FIN is used to send individual standardised (MT) messages. They can be differentiated by their purpose, for in-stance: payment, pre-notification, or reporting informa-tion. The messages are standardised and can accord-ingly be processed rapidly and securely. The diagram below depicts the possible transactions with SWIFT.

SWIFT for Corporates information and implementation

Rabobank has a standard implementation process for introducing SWIFT for Corporates. Companies and financial institutions that are interested in using SWIFT for the secure and reliable exchange of financial information can contact the Financial Logistics sales consultant at Rabobank.

A dedicated Rabobank implementation manager will be assigned to each client during the introduction of SWIFT for Corporates and will support that client throughout the process.

1. SWIFT FIN 2. SWIFT FileAct

Request for Transfer (MT101)

Credit/debit advice (MT910)

Intra-day Statement (MT942)

End of day Statement (MT940)

Set of standard messages makes full automation possible.

This can be used to send various types of files via the SWIFT network. The key benefit of SWIFT Fileact is that it allows corporates send different batch formats and receive information via a single channel from multiple banks. This speeds up payment processes and means that SWIFT can also be used for higher transaction volumes. Rabobank uses SWIFT Fileact to offer several formats for the delivery of transactions and receiving status –and accounting information, such as: • SEPA (both Euro Payments and Euro Direct Debits) • BTL’91 (Dutch format for general international

payments) • Statusinformation (via PAIN.002) • Accounting information (via MT940s or CAMT.053)

More informationThe efficient design of international payment transactions is of cardinal importance for finan-cial institutions and corporates. Rabobank Finan-cial Logistics provides support to achieve this.

on: www.swift.com/corporates. To make an appointment, please contact your Financial Logistics consultant.

Go to www.rabobank.nl/swift for more information on Rabobank SWIFT for Corporates, and for options for calling on the assistance of a SWIFT expert. In ad-dition you can find specific information on SWIFT