The Society for the Worldwide Interbank Financial Telecommunication (SWIFT) is a co-operative organization, founded in Brussels, 1973, operates in more than 200 countries is dedicated to the promotion and development of standardized global interactivity for financial transactions. SWIFT's original mandate was to establish a global communications link for data processing and a common language for international financial transactions. The Society operates a messaging service for
financial messages, such as letters of credit, payments, and securities
transactions, between member banks worldwide. SWIFT's essential function is to deliver these
messages quickly and securely- both of which are prime considerations for financial matters.