Payment Components has been providing comprehensive quotations for financial institutions, banks and software companies for over eight years and when determining the price of a client’s SWIFT financial messaging solution, there are four key price factors that we consider.
And we believe that every prospective client should have a thorough understanding of these pricing factors when they begin to look for their SWIFT financial messaging solution.
So, in order to ensure your SWIFT project is priced correctly, we have set out the four key price factors that we use to determine each of our clients’ project quotations.
4 Price Factors That Determine SWIFT Financial Messaging Pricing
1. Which Library do you require, SWIFT MT, SWIFT MX or SEPA?
The first price factor that needs to be considered when establishing the pricing of a SWIFT financial messaging solution is to establish which of the libraries you require; SWIFT MT or SWIFT MX, or SEPA?
2. Do you require the whole SWIFT library or just a few components?
Next you will need to consider if you require the whole of a SWIFT library or just a few of its components? This will have an impact on the price, with a whole library usually priced up to ten times the price of a single component.
3. How many installations of your required SWIFT library will you require?
Once you’ve established how much of your chosen library you require, you will then need to determine if you require it to be installed on a single site or multiple sites? As each installation, will typically increase the overall price.
4. What maintenance and support levels will you require?
Finally, the maintenance and support requirements of your new SWIFT infrastructure will need to be considered, including support levels, response times and what level of personal will actually be providing your maintenance and support.
Conclusion
Having a thorough understanding of the four price factors that determine SWIFT messaging pricing before you start considering service providers, will ensure you receive comprehensive project quotations and all your SWIFT messaging requirements are taken into account. And of course, we would be delighted to provide you with a full and comprehensive Payment Components quotation which takes into account each of these key price factors for your specific SWIFT financial messaging project requirements.

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