Introduction to Swift Alliance Interface

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. SWIFT is a member-owned Cooperative through which the financial world conducts business operations.

SWIFT is just a bank-to-bank messaging system. It supplies a standardized language that institutions use to communicate payment instructions and other info to each other. SWIFT uses a system of codes to detail where a transfer is coming from, where it’s going, and how it’ll to get there. These strings of alphanumeric identifiers comprise an institution code, a country code, a location code, and a branch code.

The SWIFT Alliance interface is used to communicate between financial institutions for their transactions.

It also acts as an Interface in Temenos Transact and other external interfaces to exchange secured information.

The SWIFT Alliance Interface is used to process both the incoming and outgoing Swift messages in Temenos Transact.

The benefits of this module are:

• Ability to communicate between financial institutions for their transactions.
• Ability to act as an interface in Temenos Transact and other external interfaces to exchange secured information.