The SWIFTNet Trade Services Utility (TSU) is a banking initiative provided by the
Society for Worldwide Interbank Financial Telecommunication
Swift or SWIFT most commonly refers to:
* SWIFT, an international organization facilitating transactions between banks
** SWIFT code
* Swift (programming language)
* Swift (bird), a family of birds
It may also refer to:
Organizations
* SWIFT, ...
(SWIFT).
The basic concept for the TSU is a matching system for trade documents which is designed to allow banks to provide funding at various stages throughout the physical
supply chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, acti ...
. This can be used for
letter of credit
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exp ...
business or open account transactions.
The service is available between banks and is designed to allow banks to integrate more effectively with their corporate customers and their suppliers.
SWIFT TSU announcement
The TSU provides a service that will allow the financial supply chain to mirror the physical supply chain.
References
{{reflist
External links
SWIFT homepage
Society for Worldwide Interbank Financial Telecommunication
Banking technology