- SWIFT is defined as an acronym for the “Society for Worldwide Interbank Financial Telecommunication” a Brussels-based financial telecommunications network that connects 8,500 member banks throughout the world.
An example of SWIFT is a series of cash management services offered to their members - SWIFTNet Bulk Payments, SWIFTNet Cash Reporting, and SWIFTNet Exceptions and Investigations.
- The definition of swift is something that happens quickly or something that moves at high speed.
When a person runs very quickly, this is an example of a situation where his run might be described as swift.
- moving or capable of moving with great speed; rapid; fast
- coming, happening, or done quickly or suddenly
- acting or responding quickly; prompt; ready
Origin of swiftMiddle English ; from Old English ; from Indo-European an unverified form sweip- ; from base an unverified form swei-, to bend, turn from source swathe, swoop
- a cylinder in a carding machine
- an expanding reel used to hold skeins of silk, etc. that are being wound off
- any of a large family (Apodidae, order Apodiformes) of aerial-feeding, insectivorous, swift-flying, swallowlike birds with long, stiff wings and a small, weak bill, as the chimney swift
- any of several swift-moving North American iguanas (genera Sceloporus and Uta) living esp. in arid or desert regions
- a small fox (Vulpes velox) of the plains of W U.S. and S Canadain full swift fox
- Moving or capable of moving with great speed; fast. See Synonyms at fast1.
- Coming, occurring, or accomplished quickly: a swift retort.
- Quick to act or react: swift to take revenge.
- a. A cylinder on a carding machine.b. A reel used to hold yarn as it is being wound off.
- Any of various small dark insect-eating birds of the family Apodidae, having long pointed wings and a short forked tail, and noted for their swift flight.
- Any of various small, fast-moving North American lizards, especially of the genus Sceloporus.
Origin of swiftMiddle English, from Old English.
(comparative swifter, superlative swiftest)
- A small plain-colored bird of the family Apodidae that resembles a swallow and is noted for its rapid flight. Other commom names for the birds of this family include swiftlet, needletail and spinetail.
- Some lizards of the genus Sceloporus.
- A moth of the family Hepialidae, swift moth, ghost moth.
(comparative more swift, superlative most swift)
- (obsolete, poetic) Swiftly.
From Middle English, from Old English swift (“swift, quick”), from Proto-Germanic *swiftaz (“swift, quick”), from Proto-Indo-European *(s)weip-, *(s)weib- (“to twist, wind around”). Cognate with Icelandic svipta (“to pull quickly”), Old English swīfan (“to revolve, sweep, wend, intervene”). More at swivel.
swift - Computer Definition
(SWIFT, La Hulpe, Belgium, www.swift.com) An industry cooperative that provides a standard format for transmitting payments, stock transactions, letters of credit and other financial messages to more than 7,500 member banks, broker-dealers and investment organizations around the world. Founded in 1973 as the Society for Worldwide Interbank Financial Telecommunication, millions of transactions worth several trillions of dollars are sent each day with an average transit time of 20 seconds. Working like a bank routing number, a SWIFT code is widely used to transfer funds between banks.
swift - Investment & Finance Definition
Stands for the Society for Worldwide Interbank Financial Telecommunications, a bank-owned network for processing securities trades and transferring international messages. Corporations have limited access to the system through their banks.