10 June 2016

Board Announcement: SWIFT AGM and Customer Security Programme

Programme focuses on five mutually reinforcing strategic initiatives

Brussels, 10 June 2016 - The SWIFT Board met on 9th June at SWIFT headquarters, on the occasion of the cooperative’s Annual General Meeting.

At the Board meeting, the full Board endorsed SWIFT’s recently announced Customer Security Programme and earmarked a dedicated investment for the programme during 2016. The Board will continue to actively oversee the programme and assess incremental financial needs this year and next.

The programme for our users seeks to strengthen cyber security within the financial industry, and to help the industry protect itself against cyber threats.

The programme itself focuses on five mutually reinforcing strategic initiatives:

  • Improving information sharing amongst the global community
  • Enhancing SWIFT related tools for customers
  • Enhance guidelines and provide audit frameworks
  • Support increased transaction pattern detection
  • Enhance support by third party providers.

“The industry’s security is a top priority for the cooperative,” said SWIFT Chairman, Yawar Shah. “We will work closely with regulators and customers to ensure this programme’s success and the industry’s take up of the necessary security measures. A dedicated management team has been put in place under the CEO to manage the programme, and actively consult and engage with the community to further define and execute the five initiatives. The Board has earmarked funds for the programme and will ensure it receives the right focus and investment as it moves forward.”

 

 


About SWIFT
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.

We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and financial crime compliance.
Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.

Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT.


Contacts:
Brunswick Group LLP
swift@brunswickgroup.com
Tel: +44 (0)20 7404 5959

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