International Journal of Business Management & Research - Volumes & Issues - Volume 12: Dec 2022, Issue 2

Alternatives to Swift: A Vital Tool in Global Banking

Authors

Navneet Kaur, Ramanjeet Kaur

DOI Number

Keywords

SWIFT, Messaging Network, SPFS, CIPS, and SFMS

Abstract

The trade of businesses is run by many countries to make a strong economy. Each country has its separate code and network system for transactions that support the security system for confidential information. The society for worldwide interbank financial telecommunication (SWIFT) is the core foundation of the cross-border fund transactions that ensure security and transparency and is now linked with more than 200 countries and 11000 members institute that are exchanging an average of 44.8 million messages per day. This manuscript has detailed the list and de-list process of countries from the SWIFT system. How and what delisted countries found their alternative, is also discussed in detail.

References

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How to cite

Journal

International Journal of Business Management & Research

ISSN

2249-2143

Periodicity

Bi-Annual