SWIFT-2019_SWIFT_Annual_Review_23页_965kb

SWIFT 2019 Summary

Core Content

SWIFT is a global member-owned cooperative and the leading provider of secure financial messaging services. It connects over 11,000 institutions in more than 200 countries and territories, supporting cross-border and securities transactions through a reliable and standardized platform. The organization emphasizes operational excellence, security, and resilience, and plays a vital role in shaping global financial standards and practices.

Key Highlights

• Global Reach: SWIFT operates in 200+ countries and territories, with a strong international governance structure.
• Traffic Volume: In 2019, SWIFT handled:
  • 8.4+ billion total FIN messages
  • 36.7+ million FIN messages on peak day
  • 17.9 million average daily FIN payments messages
  • 16.7 million average daily securities messages
• Growth Metrics:
  • 65% of cross-border and intergroup payments used SWIFT gpi
  • 77 trillion USD in value was processed via gpi
  • gpi country corridors increased to 1,939
  • FileAct traffic reached 5.5+ billion Kchar
  • InterAct messages totaled 2.4+ billion
• Service Availability:
  • 100% availability of SWIFTNet
  • 99.999% availability of FIN services

Main Viewpoints

SWIFT's strategic focus is on instant and frictionless payments, financial crime compliance, and customer security. The organization has been actively transforming its services and infrastructure to meet the evolving needs of the financial industry, including:

• gpi (Global Payments Innovation): A major initiative that has accelerated cross-border payments, offering faster settlement times, greater transparency, and improved fraud prevention.
• APIs and Digital Transformation: SWIFT has been developing and deploying a robust Open API platform, allowing for more flexible and integrated services. In 2019, 1 billion API calls were made.
• Agile Development: SWIFT has adopted an Agile organizational structure to enhance responsiveness and innovation, with the Board approving further scaling of this transformation.
• Customer Security Programme (CSP): A key initiative to strengthen security across the SWIFT community, with 91% of customers attesting to compliance with mandatory controls by year-end 2019.
• Operational Excellence: SWIFT maintained high service availability and reliability, even amid increased traffic and global challenges like the pandemic.

Key Information

Payments Traffic Flow by Region

• All regions showed strong growth in 2019.
• EMEA had the highest share of intra-regional payments.
• The focus is on making cross-border payments as seamless as domestic ones, with gpi at the center of this effort.

Delivering Instant and Frictionless Payments

• gpi has become a dominant solution, with 65% of cross-border payments using it by the end of 2019.
• gpi instant was launched in September 2019, integrating with domestic instant payment systems.
• Stop and Recall (Jan 2019) allows banks to stop payments in flight.
• Pay and Trace (July 2019) enables corporates to track payments across multiple banks.
• Universal Confirmations (2019) ensure transparency and certainty in payment settlements.

Financial Crime Compliance

• SWIFT offers a comprehensive portfolio of compliance solutions, including:
  • Sanctions Screening: 900+ financial institutions use SWIFT's tools to monitor transactions against sanctioned lists.
  • KYC Registry: Over 5,500 institutions use it to publish and receive KYC data.
  • Compliance Analytics: Helps identify unusual patterns and hidden relationships, supporting KYC, AML, and sanctions compliance.
  • Payment Controls: Mitigates fraudulent attacks by detecting and blocking high-risk payments, with over 100% growth in users in 2019.

Customer Security Programme

• The CSP includes 19 mandatory and 10 advisory security controls in 2019.
• 91% of customers attested to compliance with mandatory controls.
• 99% of SWIFT's FIN traffic is from CSP-compliant customers.
• The program is evolving with the introduction of CSCF v2020, requiring independent assessments of compliance.

Market Infrastructures and Standards

• SWIFT supports the development of global standards, including ISO 20022, which enhances data richness and interoperability.
• It plays a key role in shaping market practices and driving innovation in payments and securities.

Community Engagement and Leadership

• SWIFT continues to engage with the global financial community through events like Sibos 2019, which attracted over 11,500 delegates and 600 speakers.
• The organization fosters collaboration, innovation, and knowledge sharing across regions and sectors.

Corporate Social Responsibility and Governance

• SWIFT is governed by a global Board and overseen by G10 central banks, ensuring a neutral and resilient structure.
• The organization is committed to supporting the financial community through responsible innovation, security, and transparency.

Strategic Vision

• SWIFT's new strategic vision aims to provide instant and frictionless transactions for both payments and securities.
• The goal is to become the single trusted partner in all areas of transaction banking, including SME and consumer segments.
• The platform is designed to be adaptable, secure, and capable of supporting future financial needs.

Conclusion

SWIFT's 2019 performance reflects its ongoing commitment to innovation, security, and the global financial ecosystem. Through initiatives like gpi, APIs, and the CSP, it has strengthened its position as a trusted and essential player in the financial industry, supporting both current and future market demands with a focus on resilience, transparency, and compliance.