Itaú Unibanco becomes first Latin American bank to sign up for SWIFT’s fixed fee pricing program
New York, October 23, 2012 ─ SWIFT, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries and territories, today announced that Itaú Unibanco has signed on to its fixed fee program, making it the first in the Latin America region to benefit from the program.
The fixed fee pricing program is an innovative pricing mechanism that allows clients to increase usage of SWIFT services at little or no additional cost. Itaú Unibanco plans to utilize increased traffic on the SWIFT network to become more international while enjoying significant costs savings.
"Itaú Unibanco's strategy continues to focus on expansion beyond Brazil into Latin America and around the globe. Working with SWIFT has helped us realize increased global reach by improving our efficiency and lowering costs. By leveraging the SWIFT infrastructure and taking advantage of increased messaging we are able to meet our business objectives of international growth", says Rene Gonçalves, director of SMEs Operations at Itaú Unibanco.
"SWIFT has been pleased to work with Itaú Unibanco in supporting their continued growth strategy. By providing lower costs while allowing an increase in traffic, the fixed fee program enables the bank to expand its business worldwide and get the most out of its SWIFT connection," says Christina Hutchinson, Director, South Latin America Region, SWIFT.
The fixed fee program is a three-year contract and includes an entitlement to increase messaging usage by 50% in value with no cost increase. The fixed fee model provides high volume customers significant cost savings and highly valued cost predictability.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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