SWIFT, the Society for Worldwide Interbank Financial Telecommunication, has chosen MicroStrategy, a leading worldwide provider of business intelligence (BI) software, for its enterprise business intelligence and analytics standard.

MicroStrategy will anchor SWIFT’s BI service offering that is used by participating banking organizations, securities institutions, and corporate customers worldwide. SWIFT, based in Brussels, is a member-owned cooperative that provides the communications platform, products, and services to connect more than 9,700 banking organizations, financial institutions and corporations in 209 countries.

The majority of all international interbank messages rely on the SWIFT network. At SWIFT headquarters, MicroStrategy will power the company’s BI system, allowing the global financial community to track and analyze interbank payment message traffic flowing through the SWIFT network. With MicroStrategy, banks and corporations will be able to monitor underlying value and currency flows, and better understand their position in the market, track sales performance, manage counterparty risk, and enhance operational efficiencies by identifying targets for cost savings.

In selecting MicroStrategy over other business intelligence products, SWIFT cited superior platform architecture and product capabilities, as well as reliability, availability, high performance, and security.

“We are delighted that SWIFT has chosen MicroStrategy to provide financial institutions worldwide with fast and direct access to business analytics through the use of user-friendly dashboards, interactive reporting, and innovative mobile apps that extend network intelligence to iPad, iPhone, BlackBerry, and Android devices,” said Sanju Bansal, MicroStrategy Chief Operating Officer. “The agreement signed between MicroStrategy and SWIFT helps to improve the business intelligence system that monitors nearly every financial interbank message in the world. We look forward to supporting SWIFT with a secure BI infrastructure that will help SWIFT and the global financial community operate their business and messaging performance more efficiently and reliably.”