New Zealand banks now running normally

Media Statement
New Zealand banks affected by technical glitch of their interbank messaging system are now running normally

SWIFT confirms impacted New Zeland bank can switch back to SWIFT network

Sydney, April 25, 2012, 09:00 pm – SWIFT has confirmed to the banks in New Zealand who have been affected by a technical glitch that they can resume their normal business operations on the SWIFT network. SWIFT is currently conducting a thorough investigation to understand the cause and impact of the failure of a network component.

The failure that was identified by the SWIFTs technical team at 4:05 pm local time on Tuesday April 24th was solved by 11:30 pm the same day. There was no outage, but a few banks observed reduced performances of their FileAct systems during that timeframe which impacted settlements at the Reserve Bank of New Zealand.

SWIFT is putting together a report for their customers in New Zealand to ensure full transparency on the reasons of the issue that has affected them, including recommendations to prevent any similar situations happening in the future.

“We regret that our customers and their customers have been inconvenienced and are closely working with the financial community in New Zealand to ensure normal service resumption,” said Ian Johnston, Chief Executive, Asia Pacific, SWIFT.

New Zealand financial institutions are using SWIFTNet FileAct to send batches of structured financial messages and large reports. FileAct is primarily tailored for the reliable transmission of large volumes of information. SWIFTNet FileAct system processed a total of 1,565,279 files in 2011.

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