SWIFT Archives - FortuneZ

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The Society for Worldwide Interbank Financial Telecommunication (SWIFT), provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

SWIFT also sells software and services to financial institutions, much of it for use on the SWIFTNet network, and ISO 9362 Business Identifier Codes (BICs, previously Bank Identifier Codes), popularly known as “SWIFT codes”.

Bankers Rush To Fix Cross-border Payments as Crypto Competition Hots up

July 28, 2021

The banking industry looks set to go to war with crypto – and is attempting to beat coins and their proponents at their own game, with the Bank for International Settlements (BIS) following on the heels of th...

SWIFT to Open gpi Payment Link Based on R3’s Corda

January 30, 2019

In an attempt to establish a new norm in the cross-border payment standards, interbank payment and messaging network SWIFT today announced the trial of a blockchain-based proof-of-concept (PoC) gpi Link. Acc...

SWIFT to Experiment with Blockchain in India

November 22, 2018

SWIFT has signed a partnership with a fintech firm Monetago, through which it will experiment with blockchain applications in India, according to a press release. SWIFT India MonetaGo is a New York-based ...

Ripple CEO: Ripple “Taking Over” SWIFT, Integration “Strictly Rumours”

November 13, 2018

Ripple CEO Brad Garlinghouse fired some shots at SWIFT and Bitcoin in a recent Bloomberg interview. He also confirmed that whispers of integration with the former are “strictly rumours”. Competitors after ...

SWIFT Denies Integration Rumours with RippleNet

November 6, 2018

XRP, the cryptocurrency associated with payment network Ripple, temporarily overtook Ethereum in market capitalisation earlier on Tuesday. This appears to have been driven at least partially by a popular rum...

SWIFT Head of Banking: “What Problems Are You Trying to Fix?”

June 6, 2018

SWIFT declares on the website of its Global Payments Innovation service: “No other service can securely deliver hundreds of billions of dollars in payments around the world – timed in seconds.” When one cons...

SWIFT Tests Determine Blockchain Can Improve Real-Time Nostro Reconciliation

October 15, 2017

The network handling the majority of modern international interbank messages, SWIFT (Society for Worldwide Interbank Financial Telecommunication), has published an interim report its proof of concept (PoC) fo...

SWIFT Extends Multi-lateral Testing of Blockchain Application

July 7, 2017

The network handling the majority of modern international interbank messages, SWIFT (Society for Worldwide Interbank Financial Telecommunication), has announced that 22 additional global banks have joined its...

SWIFT Tests Blockchain for Real Time Nostro Database Reconciliation

January 12, 2017

The network handling the majority of modern international interbank messages, SWIFT (Society for Worldwide Interbank Financial Telecommunication), has launched a Proof of Concept (PoC) to determine how blockc...