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Society for Worldwide Interbank Financial Telecommunication

Society for Worldwide Interbank Financial Telecommunication

Nickname
SWIFT
Acronym
SWIFT
Entity Type
International Government Organization
Link
Website
Location
Belgium
Founding Date
1973

SWIFT (Society for Worldwide Interbank Financial Telecommunication) provides the network for financial institutions around the world to send and receive transactions to each other

  • Provides a safe and secure environment
  • Provides a standardized way to make transfers



SWIFT Alternatives

  • Countries have been working on alternatives to circumvent US control & sanctions
  • Russia working on a "National Currency Pool"

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