Case Study: Swedbank achieves faster, more accurate and compliant SWIFT payments with Precisely Data360

Reducing regulatory risk at Swedbank Ensuring SWIFT payment speed, accuracy and compliance

Swedbank, a leading Nordic‑Baltic banking group serving millions of private and corporate customers, faced regulatory and financial risk from SWIFT payment processing delays, data inaccuracies and limited visibility across its clearing systems. With five-minute processing SLAs and penalties for missed windows, the bank needed a way to detect and resolve timing and data errors quickly — so Swedbank engaged Precisely and deployed Precisely Data360.

Precisely implemented Data360 to provide real‑time visibility, value‑tracking and latency‑checking rules across ProSwitch, the SWIFT interface and IBM MQ, plus separate audit trails and reconciliation controls. The result: improved end‑to‑end process control and data quality, fewer billing reruns, reduced interest payments and lower costs for error detection and resolution — protecting operations for payments valued at approximately $20 billion (125 billion SEK) daily. Precisely’s solution also improved auditability and helped Swedbank pinpoint and remediate issues faster, reducing regulatory and financial exposure.

Swedbank

Elisabeth Johnson

Head of Clearing and Settlement