What is SWIFT?
SWIFT is a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 10,000 financial institutions and corporations in 212 countries trust SWIFT every day to exchange millions of standardised financial messages involving the secure exchange of proprietary data.
SWIFT provides the proprietary communications platform and services that allow customers to connect and exchange financial information securely and reliably. It also acts as the catalyst that brings the financial community together to shape market practice, define standards and consider solutions to issues of mutual interest.
SWIFT enables its customers to automate and standardise financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies. SWIFT does not hold funds nor manage accounts on behalf of customers, nor does it store financial information on an ongoing basis.
SWIFT has its headquarters in Belgium with offices in the world’s major financial centres and developing markets.
BOMI’s SWIFT Membership
- BOMI is a full member of the SWIFT network
- SWIFT BIC Code: BOMDMH22
- Enables secure international wire transfers
- Connects BOMI to correspondent banks worldwide
- Facilitates Letters of Credit and trade finance
- Supports correspondent banking relationships with First Hawaiian Bank and Westpac