Auckland, 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 New Zealand. 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.”
In New Zealand, SWIFT has one of the highest market penetrations in the world and now has 34 connected entities. Today, New Zealand banks and corporates are using SWIFT to address their various needs, including cross-border correspondent banking flows, equities and fixed income settlement flows, high-value Real Time Gross Settlement (“RTGS”) payments and corporate connectivity.
SWIFT has played a key role in the development of New Zealand’s domestic payment interchange. Earlier this year, all the New Zealand banks have successfully migrated their low value payments flows onto the SWIFT network to conduct bilateral clearing via SWIFTNet and FileAct Y-Copy. This made New Zealand the first country to go live with FileAct Y-copy for low value payments.
SWIFT has been serving countries in the region for over 30 years and will 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 http://www.swift.com/ or contact:
Head of Media Relations, Asia Pacific, SWIFT
Tel: +852 2107 8873
Tel: +852 2973 0222