“A smarter, simpler SWIFT”
The SWIFT Annual Report came out last Friday (download it here, 3.4 Megabytes) and makes for some interesting reading, especially as I like numbers. Yes, it does include lots of numbers:
- there are 8,332 institutions connected to SWIFT (note: institutions, not banks) across 208 countries and territories;
- over 3.5 billion FIN messages exchanged last year (that’s a lot!), up 22% over 2006;
- 27 SWIFT users process almost half of these FIN messages;
- 1,800 users send less than 150 messages per day;
- all users received a 25% price reduction in 2007 through a 10% reduction in prices for messages, combined with a 15% rebate on messaging traffic;
- SWIFT conducted a customer survey at the end of 2007 and gained an overall rating of 8.33 out of 10 for the total SWIFT customer experience (you’re so nice);
- 64% of respondents cited security as SWIFT’s most valued attribute, rating this capability as 9.1 out of 10;
- the SWIFT network delivered 99.9% availability throughout 2007, with just one power outage in March 2007 (what did everyone do?); and
- over 5,000 folks are registered on SWIFTCommunity.net. (which is why you're reading this).
There’s a few choice quotes and comments in the report too.
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