ABOUT BOOK

This book traces the history and development of a mutual organization in the financial sector called SWIFT, the Society for Worldwide Interbank Financial ~Telecommunication. Over the last 40 years, SWIFT has served the financial services ~sector as proprietary communications platform, provider of products and services, ~standards developer, and conference organizer (Sibos). Founded to create efficiencies ~by replacing telegram and telex (or “wires”) for international payments, SWIFT now ~forms a core part of the financial services infrastructure. It is widely regarded as the ~most secure trusted third-party network in the world serving 212 countries and over ~10,000 banking organizations, securities institutions, and corporate customers. ~Through every phase of its development, SWIFT has maintained the status of industry ~cooperative, thus presenting an opportunity to study broader themes of globalization ~and governance in the financial services sector. ~In this book the authors focus on how the design and current state of SWIFT were ~influenced by its historical origins, presenting a comprehensive account in a succinct ~form which provides an informative guide to the history, structure, activities, and ~future challenges of this key international organization. ~This work will be of great interest to students and scholars in a wide range of ~fields including IPE, comparative political economy, international economics, business ~studies, and business history.