Responding to structural shifts within the payment market infrastructures landscape
Payment market infrastructures (PMIs) include High Value Payments RTGS systems, Low-Value Payments/ACHs and Real-Time Retail Payment Systems (RT-RPS), and are critical service providers.
PMIs face a number of challenges, including regional market integration, international expansion, the need to automate and be more cost-efficient, offer new services and replace legacy systems. And as ISO 20022 rapidly becomes the international market standard, there is the added challenge of ensuring a harmonised global approach to adoption.
The evolving geopolitical landscape, growing risk of cyberattacks and IT dependencies make it more critical than ever for PMIs to demonstrate higher levels of risk management, transparency and operational resilience.
Financial Market Infrastructures
Delivering secure, reliable and efficient solutions for Financial Market Infrastructures and their communities.
PMIs have to work. Consistently and reliably.
PMIs must, deliver secure, reliable, efficient and cost-effective payment clearing and settlement for their community, at scale. PMIs are impacted by fast evolving and potentially disruptive technologies, by direct and indirect regulation, the need to control costs, and the ongoing evolution in standards. Swift’s expertise in innovative technologies, messaging and standards enables us to partner effectively with FMIs to help address these challenges and find cost effective and reliable solutions.
- Manage risks and costs
- Ensure resilience
- Respond to changing demands, such as real-time
High-Value Payments Systems / RTGS
Standardised, secure financial messaging for HVPS / RTGS
Swift supports more than 80 High Value Payments Market Infrastructures by offering common message standards, and a highly secure and resilient messaging and connectivity service.
Low-Value Payments Systems / ACH
Secure and scalable financial messaging for LVPS / ACH
Swift offers a scalable and reliable platform to more than 25 ACHs. We support cost efficient and interoperable file transfer services for retail payments within and across national clearing systems.
Real-time Retail Payments Systems (RT-RPS)
Distributed real-time payments clearing
We are providing clearing infrastructure components for real-time payments, where clearing is distributed, between debtor and creditor banks. Scope includes a 24/7/365 network, switch components and access to value-added applications.
Global Financial Messaging
Copy Services enables the message sender to trigger a copy of a payment to a destination for payment authorisation. The solution is aimed at the clearing, netting and settlement of payments transactions.
Transfer files with industry-standard security and reliability. Ideal for bulk payments files, operational data and reports.
Interbank Payments Processing
Messaging that allows participants to submit payments to the RTGS system and receive credit or debit confirmations.
Messaging that allows the participants’ liquidity management applications to monitor their accounts, payments processing and manage their reserves and limit.
Market Infrastructure Resiliency Service (MIRS)
MIRS is a generic third site RTGS system that provides operational and business continuity to RTGS operators in case of failure of their primary and/or secondary sites. MIRS acts on behalf of the RTGS operator in the event that the RTGS system is completely unavailable, due to failure of primary and secondary sites. It settles payments on a gross-basis between members, starting from the balances held at the RTGS at the time of failure.
Our powerful, end-to-end business intelligence solution combines financial messaging data with other information sources to deliver rich, business-focused analysis.
Swift is uniquely placed to support payment market infrastructures and their communities
- Secure and scalable global payments messaging
- Market Infrastructure Resiliency Service (MIRS)
- Real-time Retail Payments Systems (RT-RPS)