About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Swift to Reduce Message Prices by an Average 20 Percent

Subscribe to our newsletter

Swift, the provider of global financial messaging services, announced today that it is reducing the price of messages on its core FIN service by an average of 20 percent. This will represent an estimated saving of EUR 70 million for Swift customers in 2011. The new pricing plan takes effect on 1 January 2011.

“We have delivered the reduction by focusing on increased efficiencies and rigorous cost controls at Swift despite the tough global economic environment and the decreased volume growth” said Lázaro Campos, chief executive officer, Swift. “Consistent with our strategy for the next five years – Swift 2015 – we are committed to further decreasing the price of our messaging services in the future, while continuing to invest in the security and reliability of our platform.”

“This is the largest price reduction since 1995 and Swift has ensured customers with smaller volumes also benefit,” said Yawar Shah, chairman of the Swift board and managing director, Citi. “In fact, the announced 20 percent reduction is in addition to the achievement, ahead of schedule, of a targeted 50 percent price reduction over five years set in 2006.”

The new pricing plan reflects the guiding principles of Swift’s pricing policy, which aims to encourage traffic growth, increase market share, and respond to market conditions and competitive threats. Additionally, the policy aims to reward both large and small volume users, and offer choice to customers.

The reduction applies to all types of FIN traffic and Swift is also extending the optional Fixed Fee programme to a broader group of customers. The Fixed Fee option has proven successful because it offers customers opportunities for significant savings as well as cost predictability.

Year-to-date average FIN traffic growth is above seven percent. Swift recorded its latest traffic peak on 11 May 2010, when it processed 18.36 million FIN messages.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Are you making the most of the business-critical structured data stored in your mainframes?

Fewer than 30% of companies think that they can fully tap into their mainframe data even though complete, accurate and real-time data is key to business decision-making, compliance, modernisation and innovation. For many in financial markets, integrating data across the enterprise and making it available and actionable to everyone who needs it is extremely difficult....

BLOG

Experts Urge Data-Focussed Prep for Asset Management AI Adoption

Leading data practitioners have urged financial institutions to ensure they have suitable data management and infrastructural setups to accommodate artificial intelligence (AI) applications following a report that suggested asset managers are struggling to roll out the technology. The latest in an annual study by professional services giant KPMG found that while asset managers in the...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...