The Society for Worldwide Interbank Financial Telecommunication (SWIFT) facilitates global transactions world wide as the biggest financial payment messaging system.
Since its founding in the 1970s, SWIFT Code technology has fundamentally changed the banking industry and is now the gold standard for international transactions. Millions of international payments are sent using this system, bringing immediate benefits to financial institutions and their customers worldwide.
Closer analysis reveals the methodology by which payment transfers are made and the requisite technology needed to keep pace with evolving industry trends.
SWIFT – or the Society for Worldwide Interbank Financial Telecommunication – is the world’s largest financial payment messaging system, facilitating global transactions around the clock.