1. SWIFT ( SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATIONS)
It’s a registered cooperative society in Brussels, Belgium.
Owned by about 250 banks in Europe and North America.
Spread over 208 countries.
8332 live users , 3.50 billion messages.
It’s a communication network for international financial market transactions linking
effectively more than financial institution throughout the world.
Every member has allotted bank identifier codes.
Centers located in Brussels, Amsterdam and Culpeper,Verginia.
Swift system enables the member banks to transact among themselves quickly
1) International payments
2) statements
3) other messages ( within seconds)

2. CEO Lázaro Campos has appointed as Chief Executive Officer in April SWIFT reorganizes the company operationally and regionally in order to meet specific customers requirements.
Leonard H. Schrank has served as CEO from 1992 until April 2007.
Career has consisted of managing European and US organizations
that provide information services and software solutions to the
financial services industry. Upon graduating from MIT, co-founded
a software company in Cambridge
SWIFT opens four new offices:-
SWIFT Brazil,
SWIFT Mumbai
SWIFT Dubai and
SWIFT Johannesburg.
SWIFT’ Distributed Architecture programme completes Phase One successfully, SWIFT records two peaks in the same week in the message traffic 1,63,27,668 messages on Wednesday 23 January and 1,65,50,075 messages on Friday 25 January: a first in SWIFT history. First live SEPA (Single Euro Payments Area) Credit Transfers is sent from major European banks over SWIFT Net on 28 January 2008.
SWIFT celebrated its 35th anniversary

3. SWIFT ( GROWTH STORY)
1973 — SWIFT is born:
Forty square meters of office space in the centre of Brussels,
a handful of people and an ambitious idea. Supported by 239 banks in 15
countries
239 members | 15 countries 0 messages
1974 — Partnership principles established
Financial institutions planning to use SWIFT for messages are heavily involved in the development process, ensuring effectiveness and practicality
503 customers | 17 countries 0 messages
1975 — Emphasis on security and reliability
515 customers | 17 countries 0 messages
1976 — First operating centers open
515 customers | 17 countries 0 messages
1977 — SWIFT goes live
Albert, Prince of Belgium and now King, sends the first message. The initial group of members has grown to 518 commercial banks in 22 countries
518 customers | 22 countries 3,400,000 messages

4. 1984 — Knowledge for the future
1978 — Our first ten million messages
586 customers | 25 countries 21,600,000 messages
1979 — Opening of North American operating centre
683 customers | 30 countries 34,500,000 messages
1980 — First Asian countries connect
768 customers | 36 countries 46,900,000 messages
1981 — ST100 interface introduced
900 customers | 40 countries 62,500,000 messages
1982 — Financial stability achieved
1,017 customers | 44 countries 79,900,000 messages
1983 — 1,000th member
1984 — Knowledge for the future
1,046 customers | 52 countries 104,100,000 messages
1,188 customers | 54 countries 129,900,000 messages

5. 1985 — Satellite communication enhances services
1,946 customers | 58 countries 157,220,000 messages
1986 — Launch of value-added services
1987 — SWIFT goes into securities
2,161 customers | 61 countries 192,010,000 messages
2,360 customers | 64 countries 222,300,000 messages
1988 — Total support environment created
2,537 customers | 76 countries 255,111,000 messages
1989 — SWIFT as a forum for the financial community
2,814 customers | 78 countries 296,070,000 messages
1990 — Sibos visits Berlin
3,049 customers | 83 countries 332,895,000 messages
1991 — Smithsonian recognizes SWIFT
3,243 customers | 87 countries 365,159,000 messages
1992 — Exceeding our targets
3,582 customers | 94 countries 405,541,000 messages

6. 1993 — A new vision — a new reality
3,986 live users | 106 countries 457,000,000 messages
1994 — Adding value for the customer
4,625 live users | 126 countries 518,000,000
1995 — Entering a new era
5,229 live users | 137 countries 603,000,000 messages
1996 — Reducing costs, managing risk, improving
automation
1997 — Building for tomorrow — Announcement
of SWIFT Net
5,632 live users | 151 countries 688,000,000 messages
6,176 live users | 164 countries 812,000,000 messages
1998 — Renewing SWIFT for the future
6,557 live users | 178 countries 937,000,000 messages
1999 — SWIFT leads and delivers
6,797 live users | 189 countries 1,059,000,000 messages
2000 — Swift's 'e' future takes shape
1,274,000,000 messages

7. 2002 — First SWIFT Net FIN message sent
2001 — SWIFT Net goes live
7,457 live users | 196 countries 1,534,000,000 messages
2002 — First SWIFT Net FIN message sent
7,601 live users | 198 countries 1,817,000,000 messages
2003 — SWIFT turns 30
2,047,000,000 messages
2004 — Community migrates to SWIFT Net IP
platform
7,667 live users | 202 countries 2,299,000,000 messages
2005 — SWIFT supports industry transformation
7,863 live users | 204 countries 2,518,000,000 messages
2006 — SWIFT 2010 supports community ambition
8,105 live users | 207 countries
| 2,865,000,000 messages
2007 — SWIFT welcomes its new CEO
8,332 live users | 208 countries
| 3,501,000,000 messages
2008 — A smarter and simpler SWIFT
8,468 live users | 208 countries |
1,257,110,454 messages (April YTD)

8. Advantages of SWIFT: Reliable Reliability and accuracy
Immediate response
Vast access availability
Efficient standardised service
Automated working process

9. Organizational structure
The SWIFT Board of Directors delegates the day-to-day management of the Company to the Chief Executive Officer (CEO). The CEO and the Heads of the three Regions, the Groups and the Corporate Functions form the Leadership Council
The Regions:
The Americas Region
The Asia Pacific Region
The EMEA Region

10. CHIPS (clearing house interbank payment system)
CHIPS is the main privately held clearing house for large-value transactions in the United States, settling well over US$1 trillion a day in around 2,50,000 interbank payments.
It is an electronic payment system owned by 12 private commercial banks constituting the New York clearing house Association.
CHIPS began its operation in 1971 and has grown to be the world’s largest payment system.
Transaction settled through foreign exchange and Euro and Doller in CHIPS.
It provides the mechanism for settlement every day of payment and receipts of numerous dollar transactions among member bank at New York.
Only 46 of the largest banks dealing in U.S. dollars participate in CHIPS; 70% of these are non-U.S. banks. Smaller banks have not found it cost effective to participate in CHIPS.[

11. Settlement of transaction through CHIPSW I F T
BANK OF INDIA
AMEX BANK C H I P S F E D W I R
AMEX BANK
CANARA BANK
CITI BANK
CITI BANK

13. CHAPS (clearing house automated payment system)
Its head office is in London.
CHAPS is a British company established in London in 1984, which offers same-day sterling and euro fund transfers.
It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment Clearing Service.
CHAPS is used by 19 settlement banks including the Bank of England and over 400 sub member financial institutions. In its first year of operation, average daily transactions numbered 7,000 with a value of 5 billion pounds sterling.
In 2004 twenty years later, average daily transactions numbered 130,000 with a value of 300 billion pounds sterling.
CHAPS transfers are relatively expensive, with banks typically charging as much as £30 for a transfer

14. Working of CHAPS

16. THANKYOU