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S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunications) is a cooperative organization owned by member financial institutions that operates a global financial messaging network. It was formed in 1974 by major banks to discuss secure delivery of payment and transaction information as an alternative to Telex. The S.W.I.F.T. network now connects over 11,000 financial institutions in over 200 countries and territories, handling millions of messages daily regarding global financial transactions.

Author

ahuja_smart_rahul2008

Language

EN