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Based in Belgium, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a nonprofit organization, created in 1973, that maintains a network for the international exchange of payment instructions between banks and other institutions.
|“||It 'provid[es] electronic instructions on how to transfer money among 7,800 financial institutions worldwide.' Although SWIFT provides a messaging service and is not a bank, it is nonetheless considered the 'nerve center of the global banking industry,' routing more than 11 million transactions each day 'between banks, brokerages, stock exchanges and other institutions.'||”|