MicroStrategy (News - Alert) Incorporated, provider of enterprise class software solutions supporting business intelligence (BI), mobile intelligence, and social intelligence applications, announced that it has been selected as the enterprise business intelligence and analytics standard by SWIFT, a member-owned cooperative which provides globally located financial institutions and corporations with communications platform as well as products and services to keep them connected.

The company in its announcement said that it will be guiding the BI service of SWIFT which is being currently used by a number of participating banking organizations and securities institutions as well as corporate clients located across 209 countries. Members of SWIFT use its products and services to exchange automated and standardized financial data in a secure environment which in turn helps in bringing down their costs and lowers their operational risks as companies can effectively cut down on operational inefficiencies

A very large portion of international interbank messages leverage the SWIFT network. MicroStrategy will drive the BI system of SWIFT at its headquarters in Brussels. This will make it possible for SWIFTs network of financial members to easily keep a track on and analyze payment message traffics between banks that rely on the SWIFT network.

Using MicroStrategy, the financial community of SWIFT will find it easy to monitor underlying value as well as flow of currency. Furthermore, SWIFTs members will benefit from enhanced level of understanding of their market standing, in addition to being able to keep a track on sales performance, management of counter-party risk and elimination of operational inefficiencies. 

MicroStrategy's business intelligence products are based on an advanced platform design which features optimized product functionalities in addition to being highly secure and reliable with a high level of performance.

In a release, Sanju Bansal (News - Alert), MicroStrategy’s chief operating officer, said that, “We are delighted that SWIFT has chosen MicroStrategy to provide financial institutions worldwide with fast and direct access to business analytics through the use of user-friendly dashboards, interactive reporting, and innovative mobile apps that extend network intelligence to iPad, iPhone (News - Alert), BlackBerry, and Android devices.

He added, “The agreement signed between MicroStrategy and SWIFT helps to improve the business intelligence system that monitors nearly every financial interbank message in the world. We look forward to supporting SWIFT with a secure BI infrastructure that will help SWIFT and the global financial community operate their business and messaging performance more efficiently and reliably.”

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