SWIFT came into existence in the year 1973 and it is used in the context of banking and finance related transactions, full form of SWIFT is Society for Worldwide Interbank Financial Telecommunication. It refers to a network which helps financial institutions across the world to send and receive information about financial transactions in a secure way and hence banks can rely on this when transferring money from one country/bank/account to another country/bank/account. Headquarter of SWIFT is in Belgium and it has office in many other nations of the world.