PNM Global Group consults with institutions that facilitate the transmission of financial messages through the Global SWIFT System used by most domestic and international financial institutions. We have partnered with the world’s leading financial institutions so that our clients swift messages may be sent out on their behalf. This service is dependent on the projects merit, substance and trust in the clients transactions.
The benefits to using PNM Global to consult on behalf of the client on arranging swift messages are:
* Reduced liability of the financial messages
* Lower costs, without the sacrifice of service, speed and reliability
* Affiliation with class A top world banks
* Flexible verbiage for 799, 760 and 999 message types commonly used for Financial Instruments ( Letters of Credit, Bank Guarantees, and RWA’s. )
This SWIFT service assists many businesses in processing transactions more effectively.
Example: a client may wish to purchase a substantial quantity of goods from XYZ company. The client may need to show a financial good standing to XYZ company i.e. confirmation of financial capability from the client’s financial institution. This request can be easily confirmed via the SWIFT system. The confirmation would be known as a MT799 sent via SWIFT from the client’s advising bank. The seller’s bank would receive confirmation informing them that the buyer has the financial capability to conduct the transaction.
Types of SWIFT messages:
The MT799, MT798 and MT760 messages pertain to the proof of funds, Ready-Willing-and-Able confirmations. The MT999 freeform message is used to confirm existing agreements, memos, offers of buying and selling products or services. As such, your own business may already have been party to a transaction where the SWIFT messaging system was utilized. The speed and uniform efficiency of the SWIFT system shows that it is effective in making sure business transactions go as smoothly as possible for both parties as well as creating accountability and clarity for all parties involved.
Program 1: Retail SWIFT Messaging Service. This program enables your client to send individual financial messages specific to their transactions needs.
Program 2: Institutional SWIFT Messaging Service. This program enables one to supply the bridge connecting your financial institutions to our SWIFT facilities. In other words, one becomes a SWIFT service agent and is part of every message relayed for that institution, providing opportunities for multiple and residual benefits.
Investment Brokerage Institution
Securities Broker Dealers
Investment Management Institutions
Trust and Fiduciary Service Companies
Treasury Counter Parties
Savings and Loans