#PayTech / Swift unveils expansion plans to “fundamentally transform” transaction management

Swift has announced a new two-year strategy that sees it expand beyond financial messaging and into transaction management services.

The network says that it seeks to “fundamentally transform” payments and securities processing. It aims to provide financial institutions with “instant and frictionless” end-to-end transactions.

Swift says its new platform will utilise APIs to facilitate interactions between financial institutions and other participants… those opting in don’t need to worry about connecting their legacy tech to Swift. The firm promises “minimal disruption through backward compatibility”.