Society For Worldwide Interbnk history

SWIFT's first United States operating center was inaugurated by Governor John N. Dalton of Virginia in 1979.

The connection of the first central banks in 1983 reinforced SWIFT's position as the common link between all parties in the financial industry.

In 1987, MasterCard became the first payment card to be issued in the People’s Republic of China.

In 1988, the first MasterCard card was issued in the Soviet Union.

1990 A bolder, more contemporary brand mark and identity system are introduced.

In 1991 SWIFT received the Computerworld Smithsonian Information Technology Award in recognition for its role in standardised financial telecommunication.

With the launch of our UNIX interface systems and straight-through processing capabilities in 1993, SWIFT continued to improve efficiencies in our community’s back office operations.

In addition the initial Data Field Dictionary incorporates the Industry Standardization for Institutional Trade Communications (ISITC) DSTU 1/1995 and the Securities Standards Advisory Board (SSAB) data dictionaries.

Colombo, Massimo G. & Garrone, Paola, 1998. "Common carriers' entry into multimedia services," Information Economics and Policy, Elsevier, vol.

19SWIFT therefore decided in 1999 to adopt XML for future use.5 Contrary to FIN, XML is an open industry standard, mostly used in internet applications.

3General market transactions can be classified into three broad categories. (Geiger 2000) First, there are commercial transactions such as “business to business” or “business to consumer” transactions.

In 2005, however, SWIFT changed its system architecture to an IP-Network infrastructure, which replaced the direct connection to the main servers.

4 (2006). Avis relatif à la transmission de données à caractère personnel par la SCRL SWIFT suite aux sommations de l’UST (OFAC). C. d. l. p. d. l. v. p. – R. d.

Scott, Susan V. & Zachariadis, M., 2010. "A historical analysis of core financial services infrastructure: Society for Worldwide Interbank Financial Telecommunications (SWIFT)," LSE Research Online Documents on Economics 33886, London School of Economics and Political Science, LSE Library.

In 2014 SWIFT launched our first ever truly local joint venture (SWIFT India), delivering the benefits of our renowned financial messaging services for domestic traffic of our Indian user community.

Netsanet Haile & Jörn Altmann, 2016. "Structural analysis of value creation in software service platforms," Electronic Markets, Springer;IIM University of St Gallen, vol.