SWIFT FOREIGN TRANSACTIONS BENCHMARKING
SWIFT Foreign Transactions Benchmarking (MKS) is a research addressed to the Italian banking system, designed to provide an analysis tool for international transaction flows (extra SEPA) according to KPIs defined at the Italian level, in order to measure banks’ core business (business related to their customers) and their performance within a panel of statistically significant national banks.
The research has two main objectives:
1. In the short term, to provide the participating banks with a national benchmark instrument on extra-SEPA transaction flows (payments, trade, FX & MM, etc.);
2. In the long run, to include the largest number of banks in the national system to define real market shares no longer based on approximate estimates but on actual foreign operations.
In an article that appeared on a specialized press, two Boston Consulting Group partners, Deepak Goyal and Sumitra Karhikeyan, pointed out that banks in the world rarely investigate and quantify their “share of wallet” while relying on simple estimates or reasonable assumptions, underestimating the composition of their customer portfolio and overestimating their market shares with a margin of error of 30 to 50%.
The spirit of the project is to improve knowledge and clarity on interchange flows using a rigorous approach to address these strategic issues. The promoted research has the most general goal of maintaining a high level of knowledge on value-added information contained in foreign messaging and using it in a business strategy improvement perspective.
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