SWIFT, also known as the Society for Worldwide Interbank Financial Telecommunication, is a global network that enables secure and standardized financial transactions between banks and other financial institutions. Formed in 1973 and located in Belgium, SWIFT enables cross-border payments, trade financing, and other securities between over 200 countries. Its messaging system is reliable and efficient in communication related to finance, which is crucial for industries requiring uninterrupted operations, such as banking. SWIFT’s infrastructure also comprises the backbone of the global financial system through its large-scale messaging and switching systems. In 1977, SWIFT sent its first message, becoming a landmark in revolutionizing global financial connectivity and collaboration.
