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Question : In the context of the financial system, what does the abbreviation SWIFT stand for?

Option 1: Society for Web Interlinked Financial Transfers

Option 2: Socially Worldwide Identifier Financial Transfers

Option 3: Society for Worldly Interface Financial Telecommunication

Option 4: Society for Worldwide Interbank Financial Telecommunication


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Society for Worldwide Interbank Financial Telecommunication


Solution : The correct answer is the Society for Worldwide Interbank Financial Telecommunication .

The majority of international money and security transfers are powered by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) technology. Financial institutions use the extensive messaging network known as SWIFT to send and receive information, including instructions for money transfers, quickly, precisely and securely.

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