[{"data":1,"prerenderedAt":127},["ShallowReactive",2],{"post-who-are-swift":3},{"id":4,"title":5,"body":6,"categories":116,"date":118,"description":108,"extension":119,"meta":120,"navigation":121,"path":122,"seo":123,"stem":124,"tags":125,"__hash__":126},"blog\u002Fblog\u002Foutput\u002Fposts\u002F2023-02-03-who-are-swift\u002Findex.md","Who are SWIFT?",{"type":7,"value":8,"toc":107},"minimark",[9,14,26,29,44,48,51,54,73,77,80,89,93,96],[10,11,13],"h3",{"id":12},"overview","Overview",[15,16,17,18,25],"p",{},"SWIFT is an acronym for ",[19,20,24],"a",{"href":21,"rel":22},"https:\u002F\u002Fwww.swift.com\u002F",[23],"nofollow","Society for Worldwide Interbank Financial Telecommunications",". Based in Belgium, it is a cooperative society who run a vast network allowing banks and financial institutions to transfer money and securities securely.",[15,27,28],{},"Its is important to note that SWIFT is neither a settlement network nor a clearing network, it is a messaging system which sends global payment orders to be processed by a clearing or settlement system.",[30,31,32,39],"figure",{},[15,33,34],{},[35,36],"img",{"alt":37,"src":38,"title":37},"SWIFT logo","\u002Fimages\u002F2023-02-03-who-are-swift\u002FSWIFT_2021_logo.svg_.png",[40,41,42],"figcaption",{},[15,43,37],{},[10,45,47],{"id":46},"swiftnet-network","SWIFTNet Network",[15,49,50],{},"SWIFTNet is the private, secure network used by banks and financial institutions for secure communication owned by SWIFT.",[15,52,53],{},"It provides a number of communication protocols which SWIFTNet members can avail of depending on their use-case.",[55,56,57,67,70],"ul",{},[58,59,60,61,66],"li",{},"InterAct - used to exchange XML financial messages such as MX and ISO20022. It is suitable for when the financial messages are processed in almost realtime and an ",[19,62,65],{"href":63,"rel":64},"https:\u002F\u002Fdavegarry.com\u002Fwhat-is-real-time-gross-settlement\u002F",[23],"RTGS"," is involved.",[58,68,69],{},"Fin - used to exchange MT and ISO 15022 message formats. Fin is a store and forward messaging system.",[58,71,72],{},"FileAct - used to exchange financial messages in batch. Financial messages are queued and then batch processed at a certain time. FileAct is not time sensitive.",[10,74,76],{"id":75},"financial-messaging-standards","Financial Messaging Standards",[15,78,79],{},"SWIFT provides the standards for the syntax governing the structure of financial messaging used in the network.",[15,81,82,83,88],{},"Two of most important standards are ISO 15022, used for securities settlement and asset servicing messaging and ",[19,84,87],{"href":85,"rel":86},"https:\u002F\u002Fdavegarry.com\u002Fwhat-is-iso-20022\u002F",[23],"ISO 20022",", used as a common standard for payment messaging world-wide.",[10,90,92],{"id":91},"swift-interfaces-software-and-services","SWIFT Interfaces, Software and Services",[15,94,95],{},"SWIFT provides a number of interfaces that members can integrate with in order to transmit their financial messages:",[55,97,98,101,104],{},[58,99,100],{},"SWIFTNet Link - API to SWIFTNet. Used by all members to connect to SWIFTNet.",[58,102,103],{},"SWIFTAlliance Gateway (SAG) - Software service that connects to SWIFTNet. Faciliates other financial integrating with SWIFTNet.",[58,105,106],{},"Alliance Access (SAA) \u002F Alliance Messaging Hub (AMH) - Messaging software which process all SWIFT message flows, such as Fin, FileAct, InterAct etc.",{"title":108,"searchDepth":109,"depth":109,"links":110},"",2,[111,113,114,115],{"id":12,"depth":112,"text":13},3,{"id":46,"depth":112,"text":47},{"id":75,"depth":112,"text":76},{"id":91,"depth":112,"text":92},[117],"swift","2023-02-03","md",{},true,"\u002Fblog\u002Foutput\u002Fposts\u002F2023-02-03-who-are-swift",{"title":5,"description":108},"blog\u002Foutput\u002Fposts\u002F2023-02-03-who-are-swift\u002Findex",null,"jBy0FNccMByOOD2tcbUFkWOOmWGjJSzDCWE2C_11yNc",1778189599496]