Swift pushes technology collaboration among financial institutions

Financial institutions are often better known for their complex derivative and structured product innovations than their online technology prowess. The Society for Worldwide Interbank Financial Telecommunications Swift aims to change that.

At last week's Sibos -- Swift's annual transaction banking conference -- the cooperative's Innotribe stream selected the cloud computing proposal eMe as the next financial communication innovation it will push. Swift will act as project manager, collaborating with stakeholders from around the financial universe to ensure the idea becomes reality.

eMe is a digital safety deposit box that allows users to create one online account to process e-commerce transactions across the internet.

We help members do more with less, said Matteo Rizzi, innovation...