Swift offers up EUR33m rebate for 2013

Source: Swift

Swift announces a 10% rebate on 2013 messaging fees which will return approximately EUR 33 million to Swift users worldwide. The rebate will be paid in March 2014.

"Through a combination of innovative operational efficiencies and robust volume growth," says SWIFT CEO Gottfried Leibbrandt, "SWIFT continues to pass on savings to users in the form of substantial structural price reductions. In addition, for 2013, we are announcing a 10% rebate to all customers. We believe that our commitment to long term price reductions confirms SWIFT as the preferred partner for financial messaging worldwide".

"This rebate, together with the structural price reductions already announced for 2014, is part of the multi-year strategy set out by SWIFT in 2010 to reduce message prices by half by 2015. We are on target to achieve this goal" adds Francis Vanbever, CFO, SWIFT.

Highlights of the main pricing actions in 2013-2014 include:
• An average 20% price reduction for FIN messages, generating EUR 52 million in savings to customers in 2014.
• Upgraded Hardware Security Modules are being provided with substantial discounts, to all SWIFT customers.
• Increased discounts for high volume bilateral links.
• A Fixed Fee programme for large users will continue to offer substantial discounts.
• Reductions of up to 40% for the transmission of very large files.

Full-year 2013 FIN traffic growth is above 10%. SWIFT recorded its latest traffic peak on 20 December 2013, when it processed 22.68 million FIN messages. Full-year 2013 growth for FileAct stands at 49% and InterAct is at 17%. 

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