Apr, 2002 : Global Crossing Confirms Memorandum With SWIFT

📅 April 2, 2002 - Global Crossing confirmed today that it has signed a memorandum of understanding to restructure its network services agreement with SWIFT, the industry-owned co-operative supplying secure messaging services and interface software to 7,000 financial institutions in 196 countries.

Yesterday, the Web Host Industry Review reported that an international consortium that operates a global financial transfer system pulled out of a $300 million networking contract with Global Crossing because of concerns regarding the company's future. Since then the companies announced their intentions to restructure their agreement, which was originally executed last year.
?Our new agreement with SWIFT aligns with our goal to become world's most focused, cost-competitive data communications provider,? explained John Legere, Global Crossing's (

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