Shap ng i
SWIFT has come a long way in its 38-year history. The Society for Worldwide Interbank
Financial Telecommunication was
initially conceived as a way to enable
its members to communicate securely
with each other and to replace the old Telex
technology. The member-owned cooperative
began opening up its services to corporate
users in 1997 and now offers several options
for companies to connect to its network:
directly to SWIFT, via a SWIFT service bureau
or with Alliance Lite. Today, 841 corporations
use SWIFT and while they have been
attracted by the efficiencies and cost
savings offered by a standard means
of connecting to multiple banks,
SWIFT’s services for corporates
continue to evolve beyond sending
payment messages.
