What exactly is the SWIFT banking system? It allows financial institutions around the world to communicate quickly and efficiently. Seven Russian banks are being banned from the system.

Some financial analysts have likened ousting Russia from SWIFT as a “nuclear option,” and would be an unprecedented move against one of the world’s largest economies.

Some financial analysts have likened ousting Russia from SWIFT as a “nuclear option,” and would be an unprecedented move against one of the world’s largest economies.

Along with IFSC codes, Syndicate Bank customers will have to use new SWIFT code for foreign transactions following the lender's merger with Canara Bank ...

Swift helps more than 11,000 banks around the world communicate. Cutting Russia out would bring severe economic pain and a potential recession.

The SWIFT system could be used in a sanction against Russia with the country being removed from the financial system. What is SWIFT and what effect would this have?

Some financial analysts have likened ousting Russia from SWIFT as a “nuclear option,” and would be an unprecedented move against one of the world’s largest economies.

Countries around the world have rushed to impose penalties on Russia following its attack on Ukraine, but Putin has yet to be faced with perhaps the most brutal sanction of all: a ban from SWIFT.

The groundwork for a system of international payments that bypasses the sclerotic SWIFT network has been created. Now the banking industry needs to get behind the switch to blockchain-based payments.

Supported by Swift’s infrastructure, Ant International, a global Fintech provider, and Standard Chartered Bank have launched live production trials for a ...

A bank typically asks a customer, who wishes to undertake a cross-border transaction, about the receiving bank’s SWIFT code, or electronic address, without which money can’t be transferred.