Friday, August 24, 2012

Systems Used for Initiating Wire Transfers

The two graphs below were created using Google’s charting tools.

The two graphs show what automated and manual systems companies use in processing incoming and outgoing wires.  The data were obtained through survey.  Obviously, several companies, if not all, use more than one of the systems in their wire processing.

The data in the graphs were obtained from a 2009 Association for Financial Professionals study entitled “Providing Remittance Information with Wire Transfers”.  This study can be read by clicking here.

In addition to providing such data seen in the graphs, the study also discusses the need for additional information to be attached to wire transfers in order to improve company wire processing.

These two graphs and the study might be useful to companies evaluating their wire transfer processes.

Software Systems Used in Companies for Incoming Wires Software Systems Used in Companies for Outgoing Wires

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