- Published on March 3, 2022
- In AI Features
How does the SWIFT payment network use AI?
SWIFT is now leveraging transformative AI solutions by enabling a high-performance AI platform that is future-ready for hybrid cloud.
- By Poornima Nataraj
Acting on the sanctions, the European countries and the US have unanimously imposed a ban on leading Russian banks from the international payment network SWIFT following the invasion of Russia on Ukraine. The ban means Russia would be in a major economic disruption as it cannot access the global financial market. This means business establishments and firms in Russia will be prohibited from importing or exporting or making any monetary exchange; there will also be restrictions in making any investments or borrowing outside Russia.
So, what is SWIFT?
Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a safe and secure international messaging network that banks from many countries use to make payments from one country to another. This global network connects banks t
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Poornima Nataraj
Poornima Nataraj has worked in the mainstream media as a journalist for 12 years, she is always eager to learn anything new and evolving. Witnessing a revolution in the world of Analytics, she thinks she is in the right place at the right time.
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