Post-Brexit Swift – Record Payments Volume

Jul 21, 2016

According to new data released by Swift (Society for Worldwide Interbank Financial Telecommunication), the organization has witnessed extraordinary traffic recently. Payments traffic reached its peak at the end of June 2016, which was accompanied by the continuous Brexit-related surge in Securities and Treasury traffic. This resulted in 2 successive FIN traffic peak on June 28 and 30 2016.

Swift Records

On June 28, Swift reported having had 28.305.037 million messages sent over its network. On June 30, the number jumped to 30.392.943, which marked a growth of 7.4% between 2 of its peak days.

Swift also had strong performance for InterAct traffic with monthly growth of 55% and year-to-date growth of 41%. In addition, the organization recorded a high level of performance for FileAct traffic with monthly growth of 26% and year-to-date growth of 27%.

Moreover, Swift set new records in both Payments traffic (14.9 million messages) and Securities traffic (13.8 million messages). This is a much larger peak for SWIFT. It is larger than, e.g., the 20 million-message threshold at the end of June 2012. The recent peak makes the monthly FIN traffic growth reach 8.6% and the YTD FIN traffic growth – 5.7%.

Swift’s Systems and Traffic after Brexit

According to Marcel Bronmans, Swift’s Chief Operations Officer, they applied special monitoring measures to keep an eye on their systems and traffic volumes during those days. The performance during that period showed how they are able to anticipate capacity requirements. It proved how much resistant their system can be, and how well it can design and work.

With this in mind, take your time to find an extremely reliable payment processor like eMerhcantBroker to get the best for your business. EMB, #1 high risk merchant account provider in the US, offers exceptional payment processing services and has an A+ rating with the Better Business Burea

Swift ensures they are committed to their objective – providing security and reliability each day. Bronmans notes they will keep making ongoing investments in their system and processes to ensure they can meet future capacity and security requirements.

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