Insights

At Swift, our priority is to make cross-border payments as fast and seamless as domestic ones. With our latest major initiative, we’re taking another bold step toward that goal – launching a new scheme to guarantee a consistently fast, predictable and transparent experience for retail customers worldwide.

Today, 75% of payments travelling over our network reach beneficiary banks within just 10 minutes. But more work is needed at the final stage of a payment’s journey—the last mile—to address friction that delays funds from being delivered to end beneficiaries.

Swift has partnered with 13 global banks to demonstrate how artificial intelligence and privacy-enhancing technologies (PETs) could help the industry tackle fraud in cross-border payments. In trials involving ten million artificial transactions, the collaborative model was twice as effective in real-time fraud detection compared to models trained on data from a single institution.

For five decades, Swift has been at the heart of global financial innovation – connecting institutions, standardising processes, and enabling secure, seamless transactions across borders. Today, that legacy continues in Vietnam, where Swift is helping to modernise cross-border payments in line with the G20 goals of speed, cost-efficiency, transparency, and accessibility.

Topics ranging from AI and ISO 20022 to progressive interoperability and proper payment preparation will shape some of the lively discussions on the Swift at Sibos programme this year.

Four, three, two, one… the end of coexistence for ISO 20022 for CBPR+ is almost here.