SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. It is a global messaging network used by financial institutions to securely and efficiently transmit information and instructions, particularly in the context of international financial transactions. SWIFT provides a standardized and secure way for banks and other financial institutions to communicate and exchange financial information.

A bank's SWIFT code, also known as a Business Identifier Code (BIC), serves as its unique address in the SWIFT network.

The MT103 SWIFT message is one of the most common types used for international payments.