Society For Worldwide Interbank Financial Telecommunication (SWIFT)

Founded in 1973, it is a global member-owned cooperative that is headquartered in Brussels, Belgium.

• It enables financial entities to send and receive information about financial transactions in a secure, standardized and reliable environment. In order to use its messaging services, customers need to connect to the SWIFT environment.
• It also sells software and services to financial institutions, mostly for use on its proprietary “SWIFTNet”, and ISO 9362 Business Identifier Codes (BICs), popularly known as “SWIFT codes”.