Why is SWIFT changing its network architecture?
In June 2007, the SWIFT Board of Directors approved, in principle, enhancements to its global messaging architecture. The new architecture will lead to a more distributed data processing and storage model in the SWIFT network. The planned changes will expand SWIFT’s messaging capacity and reinforce network resilience bringing considerable benefits to the SWIFT community as a whole. They improve SWIFT’s commercial positioning. They are in line with our overall goal of reducing operational costs and prices. They will also allay data protection concerns raised by various data protection authorities. Final details of the investment plans were approved by the Board at its meeting in September 2007.The re-architecture will allow for intra-European traffic to be processed and stored only in Europe. Countries in the European Economic Area (EEA), Switzerland and other territories and dependencies considered to be part of the European Union or associated with EU countries will be assigned to the
