SWIFT to Reduce Message Prices by an Average 20%
SWIFT is reducing the price of messages on its core FIN service by an average of 20%. This will represent an estimated saving of €70m for SWIFT customers in 2011. The new pricing plan takes effect on 1 January 2011.
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.
“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 (CEO), SWIFT. “Consistent with our strategy for the next five years – SWIFT2015 – 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.”