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SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunication, is a secure messaging network used by banks and other financial institutions to send and receive information about financial transactions. It provides a standardized and secure way for these institutions to communicate and conduct business globally. SWIFT messages are used for a variety of purposes, including transferring funds, confirming payments, and communicating trade information. The network is used by thousands of banks and financial institutions in over 200 countries, and it processes millions of messages each day. SWIFT plays a crucial role in facilitating international financial transactions, enabling banks to securely and efficiently communicate with each other to ensure the smooth flow of funds and information.