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It was founded in 1973; cofounders was 239 banks from 15 countries. It leads to simplification of an operational environment of work of the organisation and cuts expenses on the maintenance of two various technical infrastructures. Migration from connections to FIN on X.25 to SWIFTNet FIN will allow both to users and most SWIFT to cut the expenses by refusal of use of network X.25 and the out-of-date technologies accompanying the given protocol that already takes place in some countries. Theoretically for payment fulfilment in Europe it is enough to know a SWIFT code of a bank and IBAN code of the addressee. Creation of hardware-software complex of SWIFT in the financial organisation and its direct connection to system SWIFT. The integrated package of administered services of transfer of the formalized messages The Service bureau is the non-financial organisation created under direct control and annual audit by SWIFT (Belgium). Also it is known as SWIFT-BIC (English Business Identifier Codes) BIC code SWIFT ID or SWIFT code.


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