Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Term	Definition
SWIFT	Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a network that allows banks all around the world to send data securely through a standardized system, facilitating international transactions. SWIFT is used by almost every organization that conducts the transfer of funds or securities across borders, including banks, brokerages, currency exchanges, and securities dealers. While there are alternative networks, such as the older Telex, none of them is as widely adopted as SWIFT.

Term

Definition

SWIFT

Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a network that allows banks all around the world to send data securely through a standardized system, facilitating international transactions. SWIFT is used by almost every organization that conducts the transfer of funds or securities across borders, including banks, brokerages, currency exchanges, and securities dealers. While there are alternative networks, such as the older Telex, none of them is as widely adopted as SWIFT.