Payment Methods

SWIFT Sees Record Payments Volume Post-Brexit

Swift Payments Volume

SWIFT is seeing some strong traffic days, according to new data released by the organization.

New data shows that, at the end of June, SWIFT saw a surge in traffic for Brexit-related securities and treasury traffic. SWIFT’s report shows that, on June 28, there were 28,305,037 million messages sent over its network. And then, on June 30, there were 30,392,943 sent over its network — a growth of 7.4 percent between two of its peak days.

That’s the biggest increase ever recorded between two peak days. SWIFT also saw new records for payments traffic, with 14.9 million messages, and 13.8 million messages for traffic related to securities. SWIFT saw an uptick in all three regions.

This peak for SWIFT is much larger, for example, than the 20 million-message threshold at the end of June 2012 and brings the monthly FIN traffic growth rate to 8.6 percent and the YTD FIN traffic growth to 5.7 percent.

“We put special monitoring measures in place to oversee our systems and traffic volumes during the period. The performance during the period demonstrated our ability to anticipate capacity requirements and evidenced the resilience of our systems, design and implementation. We are committed to our objective of ensuring that our systems work securely and reliably every day and, as agreed by SWIFT’s board, will make ongoing investments in our systems and processes to make sure we can continue to meet future capacity and security requirements,” said Marcel Bronmans, SWIFT’s COO.

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