{"title":"保留强制通过点:SWIFT 和全球支付的部分平台化","authors":"Gary Robinson , Sabine Dörry , Ben Derudder","doi":"10.1016/j.geoforum.2024.104007","DOIUrl":null,"url":null,"abstract":"<div><p>Crucial for international trade, cross-border payments are conducted via the <em>correspondent banking</em> (CB) system, a decentralised network of bilateral agreements between more than 11,000 banks in different jurisdictions, and supported by a centralised <em>messaging network</em> (SWIFT). This global twin infrastructure consists of highly complex socio-technical and socio-spatial arrangements pressured to change, but resistant to it. Beset by inefficiencies, from which the gatekeeper incumbent banks profit, the international payments system lacked alternatives until the recent tech threat of <em>dis</em>intermediation and <em>re-organisation</em> of legacy serial messaging chains to big data arrangements and centralising platformisation. We show how the CB/SWIFT nexus, an integral part of the financial and advanced services providers (FABS) complex and, as such, also a specific and important part of obligatory passage points (OPPs), creates and extracts monopoly rents, now and into the future. Challenged by new technology and the resulting push to re-form its (global) organisational architectures, understanding and conceptualising change in and of OPPs – here, the global payment infrastructure – is therefore vital. We capture the complex relationships between the CB and SWIFT for a better analytical understanding of change at the system level. Methodologically, the analysis draws on insights from an explorative research design, including 30 semi-structured expert interviews. We show that mobilising 11,000 banks across the globe to innovate and upgrade from rent extraction to new, forward-looking sources of profit, that is, data, is no straightforward process despite the governance of SWIFT to ‘nudge’ its member banks to preserve incumbency and, ultimately, its survival.</p></div>","PeriodicalId":12497,"journal":{"name":"Geoforum","volume":null,"pages":null},"PeriodicalIF":3.4000,"publicationDate":"2024-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Preserving the obligatory passage point: SWIFT and the partial platformisation of global payments\",\"authors\":\"Gary Robinson , Sabine Dörry , Ben Derudder\",\"doi\":\"10.1016/j.geoforum.2024.104007\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Crucial for international trade, cross-border payments are conducted via the <em>correspondent banking</em> (CB) system, a decentralised network of bilateral agreements between more than 11,000 banks in different jurisdictions, and supported by a centralised <em>messaging network</em> (SWIFT). This global twin infrastructure consists of highly complex socio-technical and socio-spatial arrangements pressured to change, but resistant to it. Beset by inefficiencies, from which the gatekeeper incumbent banks profit, the international payments system lacked alternatives until the recent tech threat of <em>dis</em>intermediation and <em>re-organisation</em> of legacy serial messaging chains to big data arrangements and centralising platformisation. We show how the CB/SWIFT nexus, an integral part of the financial and advanced services providers (FABS) complex and, as such, also a specific and important part of obligatory passage points (OPPs), creates and extracts monopoly rents, now and into the future. Challenged by new technology and the resulting push to re-form its (global) organisational architectures, understanding and conceptualising change in and of OPPs – here, the global payment infrastructure – is therefore vital. 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We show that mobilising 11,000 banks across the globe to innovate and upgrade from rent extraction to new, forward-looking sources of profit, that is, data, is no straightforward process despite the governance of SWIFT to ‘nudge’ its member banks to preserve incumbency and, ultimately, its survival.</p></div>\",\"PeriodicalId\":12497,\"journal\":{\"name\":\"Geoforum\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":3.4000,\"publicationDate\":\"2024-04-10\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Geoforum\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S001671852400068X\",\"RegionNum\":2,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"GEOGRAPHY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Geoforum","FirstCategoryId":"90","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S001671852400068X","RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"GEOGRAPHY","Score":null,"Total":0}
引用次数: 0
摘要
对国际贸易至关重要的跨境支付是通过代理银行(CB)系统进行的,该系统是一个分散的网络,由不同司法管辖区的 11,000 多家银行之间的双边协议组成,并由一个集中的信息网络(环球银行间金融电信协会 SWIFT)提供支持。这一全球孪生基础设施由高度复杂的社会技术和社会空间安排组成,它们面临变革的压力,但又抗拒变革。由于效率低下,守门银行从中获利,国际支付系统缺乏替代方案,直到最近出现了脱媒的技术威胁,传统的串行报文链重组为大数据安排和集中平台化。我们展示了作为金融和先进服务提供商(FABS)综合体不可分割的一部分,同时也是强制性通过点(OPPs)具体而重要的一部分的 CB/SWIFT 关系是如何在现在和未来创造并攫取垄断租金的。因此,在新技术的挑战下,以及在由此推动的(全球)组织架构重塑过程中,理解和构思 OPPs(这里指全球支付基础设施)的变化至关重要。我们抓住了 CB 和 SWIFT 之间的复杂关系,以便更好地分析理解系统层面的变革。在方法上,分析借鉴了探索性研究设计的见解,包括 30 次半结构式专家访谈。我们的研究表明,尽管 SWIFT 通过治理来 "引导 "其成员银行保持现有地位并最终维持其生存,但要动员全球 11,000 家银行进行创新并从租金提取升级到新的、前瞻性的利润来源(即数据)并非易事。
Preserving the obligatory passage point: SWIFT and the partial platformisation of global payments
Crucial for international trade, cross-border payments are conducted via the correspondent banking (CB) system, a decentralised network of bilateral agreements between more than 11,000 banks in different jurisdictions, and supported by a centralised messaging network (SWIFT). This global twin infrastructure consists of highly complex socio-technical and socio-spatial arrangements pressured to change, but resistant to it. Beset by inefficiencies, from which the gatekeeper incumbent banks profit, the international payments system lacked alternatives until the recent tech threat of disintermediation and re-organisation of legacy serial messaging chains to big data arrangements and centralising platformisation. We show how the CB/SWIFT nexus, an integral part of the financial and advanced services providers (FABS) complex and, as such, also a specific and important part of obligatory passage points (OPPs), creates and extracts monopoly rents, now and into the future. Challenged by new technology and the resulting push to re-form its (global) organisational architectures, understanding and conceptualising change in and of OPPs – here, the global payment infrastructure – is therefore vital. We capture the complex relationships between the CB and SWIFT for a better analytical understanding of change at the system level. Methodologically, the analysis draws on insights from an explorative research design, including 30 semi-structured expert interviews. We show that mobilising 11,000 banks across the globe to innovate and upgrade from rent extraction to new, forward-looking sources of profit, that is, data, is no straightforward process despite the governance of SWIFT to ‘nudge’ its member banks to preserve incumbency and, ultimately, its survival.
期刊介绍:
Geoforum is an international, inter-disciplinary journal, global in outlook, and integrative in approach. The broad focus of Geoforum is the organisation of economic, political, social and environmental systems through space and over time. Areas of study range from the analysis of the global political economy and environment, through national systems of regulation and governance, to urban and regional development, local economic and urban planning and resources management. The journal also includes a Critical Review section which features critical assessments of research in all the above areas.