Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is a messaging system for global bank-to-bank electronic fund transfers. The SWIFT infrastructure is installed on a network with more than 11,000 member institutions.
Each member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has its unique ID coding the name, city and the branch of the institution. The network communicates the transaction orders in-between banks and ensures the validity and security of transfers.