SWIFT appoints JP Morgan Veteran as Chief of Americas and UK
SWIFT, the global financial messaging services provider, has announced the appointment of John Hunter as the chief executive of its operations in the Americas and UK as well as it pushes towards the upgrade of its infra and operations to keep up with the times.
John Hunter was a managing director at JP Morgan and has extensive experience in cash management and payment services. He has also developed his financial experience by roles at Accenture, Adobe, and Hewlett-Packard where he has grown into this many roles. At SWIFT, he is expected to handle customer relationships and push its growth and expansion into different markets and also help with the upgrades on the infrastructure so that the company would be able to handle very quick and real-time, reliable payments across 4 billion accounts.
“John’s valuable and extensive experience will reinforce our industry focus and support our customers in the Americas and the U.K. as they leverage SWIFT’s expanding capabilities to create innovative new services for the consumers and businesses they serve,” said Rosemary Stone, SWIFT’s chief business development officer.
With the growth of digitalization all around the world and especially in the payments industry, slow fund transfers and payments through legacy systems are on the way out and we are seeing a lot of startups with deep pockets disrupting this industry by bringing in high speed and real-time payments on mobile and other internet-based devices which have woken up the legacy players from their slumber. Now they are looking to upgrade their infrastructure and play catch and they realize that they are likely to be left out of the race if they do not do so.
Over the last few months, SWIFT has indeed upped its game and now it can send payments in real-time and in this, it has been able to challenge those companies that do real-time payments via digital methods or through crypto. SWIFT would hope that this upgrade would help the customers to continue to stick with the company and use its services in the future as well and this would help to stave off the competition for now. It may be noted that several banks also use the services of SWIFT and it is imperative for SWIFT to keep up with the pace of the market so that banks and other financial firms that use it as their payments backbone would be able to keep pace with the fast-changing times.