Societe Generale Gains Highest Level of Authorisation in SWIFT’s ‘Bank Readiness’
Published: September 30, 2014
Boston - Societe Generale has been recognised as a ‘Bank ready for Corporate Access’ having obtained both the ‘entry’ and ‘advanced’ level certification granted by SWIFT. Societe Generale has earned and maintained SWIFT Bank Readiness Certification since the inception of the program in 2011.
This certification is awarded to banks that fulfil a list of criteria on the provision of banking services through SWIFT. The advanced certification requires Societe Generale to be a participant of the Standardised Corporate Environment (SCORE) and to have SWIFT knowledge and trained sales staff. It also requires Societe Generale to be able to:
- Receive payment instructions using FIN MT101
- Send statement messages using FIN MT940 and MT942
- Send or receive files over FileAct*
- Provide testing facilities & scripts
- Provide operational documentation to corporate clients
- Offer basic commercial documentation
- Provide a dedicated SWIFT-page on the bank website
The recognition was granted to Societe Generale for its Sogecash SWIFTNet solution. This solution is mainly used by international companies which require a single, standardised and highly-secure solution that enables them to manage their cash and sales flows and to have access to their bank statements. Societe Generale already has 51 entities around the world which comply with those requirements.
Societe Generale has offered the SWIFT channel for safely exchanging financial information since 2004 and, with 280 Corporate Groups who use the service, is one of the leading global players.