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Submission Template GBE

1) SWIFT dominates the global cross-border transaction space because it enables easy and secure payments between countries via SWIFT codes. SWIFT is owned by over 3,500 financial institutions worldwide and provides a better customer experience with real-time cross-border transfers. 2) Alternatives to SWIFT like CIPS may be able to compete over the next decade by providing similar cross-border payment services. However, they would need to gain widespread international adoption and establish trust as SWIFT currently has a large network advantage. 3) While India's payment system could offer an alternative to SWIFT, it would face challenges in gaining global acceptance and would

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80 views5 pages

Submission Template GBE

1) SWIFT dominates the global cross-border transaction space because it enables easy and secure payments between countries via SWIFT codes. SWIFT is owned by over 3,500 financial institutions worldwide and provides a better customer experience with real-time cross-border transfers. 2) Alternatives to SWIFT like CIPS may be able to compete over the next decade by providing similar cross-border payment services. However, they would need to gain widespread international adoption and establish trust as SWIFT currently has a large network advantage. 3) While India's payment system could offer an alternative to SWIFT, it would face challenges in gaining global acceptance and would

Uploaded by

Gaurav Behera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COURSE: GLOBAL BUSINESS ENVIORNMENT

PROJECT: CIPS VS. SWIFT

Instructions for the submission:


● Please maintain the following: Font - Times New Roman, Font Size - 12, Line
Spacing - 1.5

Question 1. Why Is SWIFT dominant in the global cross-border transaction platform


space? 

when there are multiple banks involved in the payment chain, and the
final leg needs to be cleared within the recipient country, the domestic
payments are sometimes delayed owing to the limited operating hours of
the local clearing systems. With the advent of real-time payments
systems, which typically operate 24/7, there is an opportunity to remove
these last frictions and ensure that these payments are credited in seconds
rather than hours.

SWIFT, or Society for Worldwide Interbank Financial


Telecommunications, is a financial messaging service based in Belgium.
It facilitates rapid and highly secure payments between two countries via
a SWIFT code, enabling seamless international trade. Under Belgian
law, SWIFT is owned and controlled by its shareholders, representing
nearly 3500 financial institutions worldwide.

Swift dominate in the global cross border transaction because the cross-
border transaction is very easy but the swift method. You can send and
receive the transaction easily .People easily adopted the method .By
swift method you can position yourself as a payment leader ,swift gives a
deliver a better experience and bring real time cross boarder to the
market also bring new effencies to local economy .
Question 2. If the alternatives to SWIFT are/will be implemented in the global trade, will
they be able to compete with SWIFT over a decade? Justify your answer for
each of the below mentioned platforms.
Question 3. With the West's SWIFT punishment to Russia, can India offer the world a
better alternative compared to SWIFT and other upcoming platforms? Discuss
the challenges that the Indian system can face.
Question 4. China and Russia are working on homegrown alternatives to the SWIFT
payment system. What impact will it have on the US dollar? Justify your
answer. 

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