Written by Modulr | Jul 24, 2025 11:00:00 PM
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network used by financial institutions, corporates and market infrastructures to exchange financial messages – often facilitating cross-border payments, securities, FX, capital markets commodities transactions. The term ‘SWIFT Payment’ has become colloquial with sending a cross-border payment facilitated by SWIFT communication, but the network itself is not involved with the execution of a transfer, only message exchange.