S.W.I.F.T.(Society for Worldwide International Transactions) [Last Updated by: admin on 2012-01-01]
A society registered in Brussels used by over 500 banks in 26 countries worldwide and linked with interbank networks in the USA for the purpose of intercommunication. An electronic system for sending payment messages as well as reconciling Nostro accounts and Foreign Exchange transactions. It is a bank's co-operative and provides a speedy twenty-four hour secure network.