Broadridge Financial Solutions supports banks in utilizing SWIFT payments by providing connectivity, message processing, and workflow management services.
The company is dedicated to aiding financial institutions with their transition to real-time SWIFT payments before the October 2025 European deadline. This initiative reflects a strong adoption rate among European banks, showcasing Broadridge’s commitment to enhancing transaction speed and efficiency across the continent.
Facilitating the Move to Real-Time Payments
Effective October 2025, instant payments will become a regulatory requirement. Financial institutions are urgently seeking scalable and cost-effective solutions to comply. Broadridge aims to assist banks in this transition by minimizing onboarding complexity and offering cost advantages for improved operations and growth.
In just five months, Broadridge has onboarded seven clients, leveraging collaborations with core banking solution providers such as CPB SOFTWARE, and instant payment application providers like Foconis. The company’s solution includes simple integration with the European Central Bank’s Target Instant Payment Settlement (TIPS) system, ensuring high-availability infrastructure for 24/7 transaction settlement without downtime.
CPB SOFTWARE noted that Broadridge distinguishes itself from other providers by helping clients go live within five months compared to the usual six months or more required by most organizations. This rapid deployment is a significant advantage in today’s dynamic payments landscape.
Broadridge’s instructing party model, designed with cooperation from the European Central Bank’s TIPS system, encourages client adoption and significantly reduces costs while simplifying compliance and streamlining market entry. The company’s infrastructure ensures ‘active-active’ failover across two data centers, ensuring uninterrupted service availability, reduced risk, and enhanced resiliency by allowing banks to test failover scenarios under real conditions.
Broadridge’s partnerships with CPB SOFTWARE and Foconis have been crucial in enabling rapid deployment for financial institutions. The solution is built for continuous operation, processing transactions within less than 10 seconds without downtime, thanks to SwiftNet Instant connectivity for greater efficiency. This setup aims to enable banks to handle high-volume transactions in the currency set of instant payment transactions while preparing for future transitions.
