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SWIFT, or the Society for Worldwide Interbank Financial Telecommunications, is a global messaging network that connects financial institutions, including banks and money brokers. Through SWIFT, each institution has a unique identifier, allowing secure and standardized communication for transactions such as international money transfers. Financial institutions use SWIFT IDs and specific codes to send predefined messages, ensuring efficient and secure fund transfers across borders. In transactions involving multiple banks or currencies, SWIFT uses intermediary banks and currency conversion protocols to facilitate the process, which may increase processing time and fees.