How do you monitor and report on your SWIFT messaging activity and costs?

1 Set up your billing profile

The first step to monitor and report on your SWIFT messaging activity and costs is to set up your billing profile on the SWIFT website. Your billing profile allows you to choose your preferred currency, billing frequency, payment method, and contact details for your invoices. You can also opt in to receive electronic invoices and statements, which can help you reduce paper waste and streamline your accounting processes.

2 Use the SWIFT Dashboard

The SWIFT Dashboard is a web-based tool that gives you a comprehensive overview of your SWIFT messaging activity and costs. Accessible from the SWIFT website or the SWIFTNet Link application, this dashboard enables you to view and download various reports. These include Traffic summary, which shows the number and value of messages by category, region, and correspondent; Traffic breakdown, which shows the details of messages by type, destination, and date; Traffic comparison, which shows changes in message volume and value over time or across different criteria; Billing summary, which shows the total amount and breakdown of messaging fees and charges by service, product, and message category; Billing breakdown, which shows the details of messaging fees and charges by invoice, item, and date; as well as Billing comparison, which shows changes in messaging fees and charges over time or across different criteria. Additionally, you can customize and filter the reports according to your needs and export them in various formats such as PDF, Excel, or CSV.

3 Use the SWIFT Analytics

The SWIFT Analytics is a cloud-based tool that provides you with deeper insights into your SWIFT messaging activity and costs. Accessible from the SWIFT website or SWIFTNet Link application, the SWIFT Analytics allows you to benchmark your performance against peers and the market, identify opportunities and risks for your business, and enhance decision-making and strategy. It offers various modules, such as Business Intelligence, Watch, Value, and Compliance. Business Intelligence provides a holistic view of your SWIFT messaging activity and costs, Watch offers real-time monitoring and alerting of your SWIFT messaging activity and costs, Value provides a detailed breakdown of your SWIFT messaging fees and charges by service, product, and message category, while Compliance offers a comprehensive overview of your compliance-related SWIFT messaging activity and costs. You can subscribe to the modules that suit your needs, and access them from any device.

4 Use the SWIFT Reports

The SWIFT Reports are a set of standard reports that you can receive by email or download from the SWIFT website. These reports include a monthly traffic report that shows the number and value of messages by category, region, and correspondent for the previous month, as well as a monthly billing report that displays the total amount and breakdown of messaging fees and charges. Additionally, there are yearly traffic and billing reports that provide similar information for the previous year. All of these reports are available in PDF format, with the option to choose the frequency and recipients.

5 Use the SWIFT Invoices

The SWIFT Invoices are the official documents that demonstrate the amount and specifications of your SWIFT messaging fees and charges. You can receive them by email or download them from the SWIFT website. The summary of the invoice will display the total amount and breakdown of your SWIFT messaging fees and charges by service, product, and message category for the invoice period. Additionally, the details of your SWIFT messaging fees and charges by invoice, item, and date for the invoice period will be included. The invoices are available in PDF format, and you can pay them online or through bank transfer.