SWIFT means several things in the financial world

A secure network for transmitting messages between financial institutions;

A set of syntax standards for financial messages (for transmission over SWIFT Net or any other network)

A set of connection software and services allowing financial institutions to transmit messages over SWIFT network.

Under 3 above, SWIFT provides turn-key solutions for costumers, consisting of linkage clients to facilitate connectivity to the SWIFT network and CBTs or ‘computer based terminals’ which members use to manage the delivery and receipt of their messages. Some of the more well-known interfaces and CBTs provided to their costumers are:

Alliance Access (SAA) and Alliance Messaging Hub (AMH) are the main messaging software applications by SWIFT, which allow message creation for FIN messages, routing and monitoring for FIN and MX messages. The main interfaces are FTA (files transfer automated, not FTP) and MQSA, a WebSphere MQ interface.

There are four key areas that SWIFT services fall under in the financial marketplace: Securities, Treasury & Derivatives, Trade Services and Payments & Cash Management.

  • SWIFT Net FIX (obsolete)
  • SWIFT Net Data Distribution
  • SWIFT Net Funds
  • SWIFT Net Accord for Securities (end of life October 2017)[12]
  • Treasury & Derivatives
  • SWIFT Net Accord for Treasury (end of life October 2017)[12]
  • SWIFT Net Affirmations
  • SWIFT Net CLS Third Party Service
  • SWIFT Net Bulk Payments
  • SWIFT Net Cash Reporting
  • SWIFT Net Exceptions and Investigations
  • SWIFT Net Trade Services Utility
  • Swift Ref, the global payment reference data utility, is SWIFT’s unique reference data service. Swift Ref sources data direct from data originators, including central banks, code issuers and banks making it easy for issuers and originators to maintain data regularly and thoroughly. SWIFT Ref constantly validates and cross-checks data across the different data sets.