Under Construction
About SWIFT
Society for Worldwide Interbank Financial Telecommunication
SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a global member-owned cooperative that functions as a huge messaging system. Members (banks and other financial institutions) use it to quickly, accurately, and securely send and receive information, primarily money transfer instructions.
Key Takeaways
- Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a member-owned cooperative that provides safe and secure financial transactions for its members.
- This payment network allows individuals and businesses to take electronic or card payments even if the customer or vendor uses a different bank than the payee.
- SWIFT is the largest and most streamlined method for international payments and settlements.
- SWIFT works by assigning each member institution a unique ID code (a BIC number) that identifies the bank name and the country, city, and branch.
- SWIFT has been used to impose economic sanctions on Iran, Russia, and Belarus.
Financial Planning and Analysis (FP&A) play a crucial role in companies, performing budgeting, forecasting, and analysis that support major corporate decisions of the CFO, CEO, and the Board of Directors. My personal experience in strategy analysis and development can serve a lot of different industries. I exactly know whether to use both quantitative and qualitative analysis of all operational aspects of a company in order to evaluate the company’s progress toward achieving its goals and to map out future goals and plans. FP&A Analysts consider economic and business trends, review past company performance, and attempt to anticipate obstacles and potential problems, all with an eye toward forecasting a company’s future financial results.