SWIFT has named seven new members to its board to reflect the global nature of its members.

The appointments were the result of a board review following a regular share reallocation exercise and a number of "end of term" appointments, Society for Worldwide Interbank Financial Telecommunication said Monday.

For the first time the board has a member from India to represent several Asian countries and a new member from China, which is a key market for SWIFT, Yawar Shah, the group's chairman, said in a news release.

"It is critical that we continue to benefit from a board that is as geographically diverse as it is in expertise in securities, payments, finance and technology," Shah said.

The new members include executives from Clearstream Services, ING (ING), Royal Bank of Canada (RY), ABN AMRO, Credit Suisse (CS), Bank of China and HDFC Bank (HDB).

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions in 210 countries.