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The '''SWIFT banking network''' (Society for Worldwide Interbank Financial Telecommunications) system, which was founded in 1973 for the purpose of establishing common processes and standards for financial transactions, powers most international [[money]] and [[security]] transfers. SWIFT powers the [[Petrodollar]] system. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions to resolve international transactions and [[balance of payments]] [[trade]] accounts.
The '''SWIFT banking network''' (Society for Worldwide Interbank Financial Telecommunications) system, which was founded in 1973 for the purpose of establishing common processes and standards for financial transactions, powers most international [[money]] and [[security]] transfers. SWIFT powers the [[Petrodollar]] system. SWIFT is a vast messaging network used by financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions to resolve international transactions and [[balance of payments]] [[trade]] accounts.