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SWIFT (Society for Worldwide Interbank Financial Telecommunication)

SWIFT (Society for Worldwide Interbank Financial Telecommunication)

SWIFT, an acronym for Society for Worldwide Interbank Financial Telecommunication, is a Brussels-based company that plays an important role of a financial intermediary in the execution of transactions on its network, used by most banks in the world. The SWIFT or BIC (Bank Identifier Code) code is used to identify a bank or financial institution within the system itself.

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