34
2.4. 2. Society for Worl dw ide Interbank Fi nan cial
Telecom muni cation (S WIFT)
SWIFT
is an internat ional
cooperative ow ned by more t han
200 U.S., Canadian, and European banks
and
which
serves
more
t
han 3,000 financial
inst itut ions w orldwide. It ut iliz es comp ut er
t
echnology
to
t
ransfer
the
inst ructions
underly ing
interbank
funds
flow s.T his
sy st em offers
client s a very
fast , secure,
low
cost means
of
t
ransmit ting such
inst ruct ions
w t h
i
the use of st andardized
message format s (Deans,
P C.&K
. C.&K
arw an, K. R. 1997).
”M ost
bank t ransfers
are
p
rocessed
t
hrough an
int ernal
bank
netw ork
for
int ernat ional p ayment s
and messages”
SWIF T is
a
syst em
that is
p
art icipat ed
by
more than 8,000 financial
inst itut ions around
t
he
w
orld. T he
SWIFT net work
is a
low-cost ,
secure,
and
effect ive internal
communicat ion sy stem coop erat ively
ow ned by
t
he
part cip at ing
icip at ing
banks. T his net work
has
made bank
t ansfers betw een countries much
ransfers betw een countries much
fast er (Grat h, 2008).
2.4. 3. Trade
Finance In fo rmatio n System s
Derived
from
t
he
underst anding
of
infor mat ion
sy stems,
it
can
be
concluded t hat a t rade f inanc e infor mat ion
sy stem is
gen eral ly
an information
syst em that resolves
trade
finance
business t ransact ions
by
p
rocessing inp utt ed
t
ransact ion
data
int o
informat ion, p roviding
rep ort s as the
output , and communicat e
the
informat ion to specific
users
as needed.
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