SWIFT to Cut FIN Prices By 20% in 2014

SWIFT will reduce prices for the entire SWIFT community, with the cost of FIN messages dropping an average of 20% starting January 1, 2014.

The total cost reductions will save SWIFT users €52 million in 2014, with the largest discounts going to high volume bilateral links. This price restructuring follows SWIFT’s plan from 2010 to cut prices in half by 2015.

“I am very pleased to be able to offer even lower prices to our community from 2014,” says Gottfried Leibbrandt, SWIFT’s CEO. “Through a combination of innovative operational efficiencies and healthy volume growth, we are able to pass on savings to members in the form of this substantial structural price reduction. We believe this achievement confirms SWIFT as the preferred messaging partner to financial institutions worldwide.”