Swift returns more than €30 million to its customers worldwide

Rebecca Lambert
Rebecca Lambert
By Rebecca Lambert on 06 January 2015
Swift returns more than €30 million to its customers worldwide

Global financial messaging services provider Swift has announced a 10% rebate on 2014 messaging fees, which will see it return more than €30 million to customers worldwide. The rebate will be paid in early March 2015.

“Strong traffic growth combined with innovative operational efficiencies enables Swift to give back to its user community,” says Yawar Shah, the organisation’s chairman. “In addition to the 10% rebate, Swift users have also realised additional cost savings in the form of substantial structural price reductions. It is through these strategic pricing programmes that Swift will continue to reduce costs for its customers.”

Swift ended 2014 having processed a record 5.6 billion messages. Its FIN traffic grew by 10.95% and the organisation recorded its latest traffic peak day on 30 September 2014, when it processed 26 million FIN messages.

This helped it to reduce the cost of FIN messages by around 20%, generating €52 million in savings for customers. In addition, Swift increased discounts for high volume bilateral connections, yielding €26 million in cost savings.

“This rebate comes on top of the structural price reductions we announced in 2014,” added CFO Francis Vanbever. “In 2010, Swift set out a multi-year strategy to cut message prices in half by 2015. We achieved this goal one-year ahead of schedule.”

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