SWIFT is a worldwide community, with head quarter in Belgium, having over 7,500 financial institutions in 199 countries as its members, says a press release.

The guiding principles of SWIFT are to offer the financial services industry a common platform of advanced technology and access to shared solutions through which each member can build its competitive edge.

The organisation is engaged in supplying secure, standardised messaging services and interface software to its members.

The SWIFT community includes commercial banks, investment managers, as well as other market infrastructures requiring payments, and transferring securities, treasury and trade.