Swift states that although transfers across its network are completed in seconds, most of a payment’s journey occurs after funds reach the beneficiary bank and before they are credited to the recipient account.
Swift said transactions across its network happen in seconds, but around 80% of a payment’s total journey is spent in the "last mile"—the period between arrival at the beneficiary bank and final crediting to the end account. The statement highlights a longstanding friction point in cross-border payments, where messaging and settlement across bank networks can be fast, but final account crediting may still depend on downstream banking processes, compliance checks, and local operating systems. For digital asset markets, this distinction is relevant because blockchain-based payment systems are often promoted for reducing delays between transfer and final receipt.