History
SWIFT was founded in Brussels in 1973 under the leadership of its inaugural CEO Carl Reuterskiöld (1973-1983) and was supported by 239 banks in 15 countries. It started to establish common standards for financial transactions and a shared data processing system and worldwide communications network designed by Logica. Fundamental operating procedures, rules for liability, etc., were established in 1975 and the first message was sent in 1977. SWIFT's first United States Operating Centre was inaugurated by Governor John N. Dalton of Virginia in 1979.
Read more about this topic: Society For Worldwide Interbank Financial Telecommunication
Famous quotes containing the word history:
“Psychology keeps trying to vindicate human nature. History keeps undermining the effort.”
—Mason Cooley (b. 1927)
“History is the present. That’s why every generation writes it anew. But what most people think of as history is its end product, myth.”
—E.L. (Edgar Lawrence)
“The principle that human nature, in its psychological aspects, is nothing more than a product of history and given social relations removes all barriers to coercion and manipulation by the powerful.”
—Noam Chomsky (b. 1928)