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Banks' messenger service reaps gains amid tougher regulations

SWIFT rides on rising compliance demands on banks, boosting revenue of its non-messaging services.

Published Sun, Oct 11, 2015 · 09:50 PM

FOR many bankers, Sept 15, 2008 is a date seared in their minds.

One might say the same for SWIFT (the Society for Worldwide Interbank Financial Telecommunication), which found itself in an awkward and tense spot when Lehman Brothers collapsed that day - the very same day its headline banking event opened in Vienna that year.

And SWIFT itself has always been at the heart of the financial industry, managing the global messaging system for its banking clients.

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