Transforming transactions together with the global financial community
Over the next two years and beyond, we’re evolving our capabilities to enable frictionless and instant payments and securities transactions from one account to another, anywhere in the world.
We’re doing this by transforming the SWIFT platform based on the concept of transaction management. By bringing together data and common services, we aim to further improve end-to-end efficiency and unlock bold opportunities for our community.
Shaping the future of payments and securities
Instant, frictionless payments
Our vision is for a world where payments are instant and frictionless, from account to account, anywhere across the globe. Find out how our platform can help you achieve that.
Together with our community, we are transforming our platform to help post-trade players go faster, work smarter, improve transparency and reduce costs.
How the SWIFT platform is evolving
Across payments and securities, our mission is to deliver instant and frictionless transactions that improve the client experience and unlock new capabilities across the financial services community. This will be achieved through an enhanced platform that integrates payments, securities, trade, and FX into a single solution. This will enable us to iteratively unlock value for all of our community and create a rich ecosystem for the future.
Our enhanced platform will maintain full transaction data at the centre, and will orchestrate the interactions of participants in a transaction chain, mediating between users of different protocols and formats, to ensure that no data is lost, corrupted or over-written in the process. This standardisation will help the industry to minimise friction, optimise speed and provide end-to-end data integrity.
Resources to get you started
Introducing Transaction Management
Log in to read the report on the successful completion of the customer pilot.
Introduction to the concepts and rules
Log in to SWIFTsmart to watch the introductory video which explains how transaction management works.
Frequently Asked Questions
We’ve compiled a list of questions frequently asked about transaction management by members of our community.
ISO 20022 adoption
Supports the SWIFT banking community in their adoption of ISO 20022 for payments.
Helps to overcome potential truncation frictions during the ISO 20022 CBPR+ coexistence period by improving end-to-end transaction integrity.
Data integrity will be maintained using community-defined business rules for specific fields.
Move at your own pace
Enables interoperability between ISO 20022 early and later adopters (working alongside the In-flow Translation service).
Captures rich data and maintains the full transaction copy centrally. All parties involved can access the preserved data.
SWIFT will automatically route traffic through transaction management, so customers don’t need to connect or subscribe.
SWIFT's new strategy
As the financial industry’s neutral and trusted infrastructure provider, we help our community of over 11,000 institutions move value around the world reliably and securely. And as we have progressively expanded what we do, we also have evolved how we deliver.
Now we are taking another leap forward – fundamentally transforming payments and securities processing to help our customers navigate the complex challenges they face today and remain prepared well into the future.
Over the next two years and beyond, we are set to deliver on an exciting strategic roadmap for and with our global community that will expand SWIFT capabilities beyond financial messaging to provide a platform for comprehensive transaction management services.