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SWIFT celebrates 30th anniversary in Australia

SWIFT celebrates 30th anniversary in Australia

Company Information,
27 December 2012

Sydney, 27 December 2012 - SWIFT, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, recently celebrated 30 successful years of operations in Australia. This also marks a major milestone for SWIFT in Asia Pacific as it continues to expand and invest in this fast growing region.

Ian Johnston, Chief Executive, Asia Pacific, SWIFT said: "Thirty years represents a significant commitment, relationship and achievement. Everyone in the financial services industry should be proud of the continuous collaboration and success." 

SWIFT is a key infrastructure within the Australian financial system. Over the past three decades, SWIFT has been providing the local community with a highly secure and reliable network to exchange electronic financial messages. It also links many Australian banks and securities organisations to domestic and global institutions and market infrastructures.

Currently there are 138 entities in Australia connected with SWIFT. Australia is now ranked 12th in terms of messages sent and 11th in terms of messages received. 

Mr. Johnston highlighted that SWIFT has played a critical role in the evolution of Australia's payments system. Australia was one of the very first countries to implement a SWIFT-based Real Time Gross Settlement ("RTGS") system, a model which has since been adopted by many countries. 

Bill Doran, Key Clients Relationship Manager, Australia & Oceania, SWIFT added: "Australia's payments system is going through the next stage of development, which will bring greater efficiency and innovative services as businesses and customers make payments in real time and with richer remittance data. We look forward to working closely with the financial community on this new real-time clearing and settlement system, and delivering our world-class infrastructure, products and services to address their retail payments needs."

The SWIFT Sydney office was opened in 1997 and is one of eight offices serving customers in Asia Pacific where SWIFT has been present for over 32 years. Demonstrating the potential and commitment to the region, SWIFT has opened three offices Asia since 2005.

Meanwhile, SWIFT will further strengthen its presence in Asia Pacific by establishing a new corporate hub across two locations - Kuala Lumpur and Singapore.  The centre will focus on services such as IT development, qualification testing, support, finance, human resources and operational functions.

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

For more information, please refer to our website or contact:

Ernest Chan
Head of Media Relations, Asia Pacific, SWIFT                  
Tel:  +852 2107 8873 

Bite Communications
Rosemary Merz
Tel: +852 2973 0222