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SWIFT News

SWIFT, or a Society for Worldwide Interbank Financial Telecommunication, is a co-operative organization that is the provider of the SWIFT network — a standard for exchanging transaction information between financial institutions. SWIFT was founded in 1973 in Belgium. SWIFT is currently used by most international banks and is famous for its secure and trusted network. That being said, SWIFT has its flaws and is investing in the further development the system. With multiple blockchain competitor companies like Ripple, which plans to speed up and establish the highest level of security in banking transactions, SWIFT is actively working on implementing blockchain technology into their protocol. SWIFT’s blockchain tests have already been conducted and have showed very good results. However, SWIFT’s team concluded that distributed ledger technology should be improved in order for it to be implemented into the international banking system.

Top News

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Proxeus, IBM Switzerland, and other partners prove the ability of Blockchain to register businesses faster than the traditional system.

Proxeus, IBM Register A Business On Blockchain In ‘Record Setting’ Time

Molly Jane Zuckerman

2018-04-09T17:00:00+01:00

21040

A report on SWIFT’s test program of DLT technology for Nostro account reconciliation has been published, DLT technology shows “fantastic progress.”

SWIFT’s Blockchain Pilot For Bank-To-Bank Transfers Went ‘Extremely Well’

Molly Jane Zuckerman

2018-03-08T13:04:00+00:00

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The NAGA Group is bringing Blockchain technology to the FinTech world.

New Blockchain VER-sion of FinTech

2017-11-14T21:58:00+00:00

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Microsoft CEO challenges Swift to develop ‘useful’ applications of Blockchain technology.

Microsoft CEO Issues Blockchain Challenge to Interbank Messaging Service Swift

2017-10-22T15:20:00+01:00

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Ripple, which touts itself as the “Global Settlement Network” and has been involved with various banks to move money around the world, has its own ideas about h...

Banks Need ‘Hybrid Approach to Blockchain Technology’: Ripple’s Marcus Treacher

Shivdeep Dhaliwal

2017-07-12T17:20:00+01:00

18970

Hyperledger has released the Fabric 1.0, the first version of its flagship business Blockchain solution.

Hyperledger Formally Launches First Product, Fabric 1.0

2017-07-12T08:29:00+01:00

9122

SWIFT’s Blockchain settlement project has gained 22 more ‘tester’ banks before development e...

SWIFT Hyperledger-Backed Blockchain Project Nets 22 More Banks

2017-07-07T15:20:00+01:00

15904

Excitement is on the horizon as the altcoin Ripple climbs 13% in 24 hours, yet the company appears surprised.

Altcoin Ripple 13% Surge Gets Investors Forecasting Breakout

2017-06-20T10:15:00+01:00

42177