Media Centre

That’s significantly ahead of the G20’s target of 75% settlement within an hour by 2027. But delays in cross-border payments often occur once a payment has left the Swift network – between arriving at the end bank and being credited to the customer account.

We’re innovating on parallel tracks: improving the payments experience today, and preparing for the financial ecosystem of tomorrow – leveraging our unmatched resilience, security and scalability to facilitate real time, 24/7 cross-border payments in any form of regulated tokenised value.

Contrary to popular belief, long chains of correspondent banks are very rare in cross-border payments. The scale of the Swift network means most payments are direct, or include just one intermediary.

Like a package out for delivery, Swift enables transparency in cross-border payments through our end-to-end tracking capabilities, giving certainty on where a payment is at any point in time.

As a neutral and inclusive cooperative, Swift doesn’t seek to maximise profit. We’re focused on enabling global finance to function and to mitigate the risks of an increasingly fragmented financial ecosystem.