Swift uses videoconferencing to cut travel costs

Financial messaging network Swift has signed a three year deal for BT to provide it with videoconferencing services.

The network, which exchanges messages between 8,600 financial firms, will use the BT Unified Communications Video package, which includes high definition Cisco TelePresence technology, for communication between staff in different locations.

Swift aims to cut costs and reduce travel by using the system across Europe, the US and Asia. Under the deal, BT will implement five systems and provide services including help desk support, diagnostics and maintenance. The value of the deal was not disclosed.

Francis Vanbever, chief financial officer at Swift, said: "Cisco TelePresence technology helps our teams across the globe to interact and collaborate as if they were in the same room. It brings us numerous advantages in the areas of efficiency, cost-control and carbon emission reduction."

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