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Swift Network & Connectivity Flashcards

6 cards from real Swift practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What does SWIFTNet refer to in the context of the SWIFT network?

    Answer: The IP-based network infrastructure used by SWIFT

    SWIFTNet is the IP-based private network infrastructure over which SWIFT financial messages are securely transmitted.

  2. Which service on SWIFTNet is used for store-and-forward messaging (such as MT messages)?

    Answer: FIN (Financial Application)

    FIN is the SWIFT store-and-forward service responsible for delivering traditional MT financial messages.

  3. What is the primary purpose of SWIFTNet FileAct?

    Answer: Secure transfer of large files between financial institutions

    FileAct is a SWIFTNet service designed for the secure transfer of files, such as bulk payment batches or reports.

  4. What is a SWIFT Alliance gateway used for?

    Answer: Connecting a financial institution's internal systems to SWIFTNet

    SWIFT Alliance Gateway is middleware that manages the connection between a bank's internal systems and the SWIFTNet network.

  5. What is the role of a SWIFT Service Bureau?

    Answer: Providing SWIFT connectivity services to smaller institutions on their behalf

    A SWIFT Service Bureau provides outsourced SWIFT connectivity and messaging services to institutions that cannot maintain their own infrastructure.

  6. In the context of SWIFT, what is a 'correspondent bank'?

    Answer: A bank that provides payment services on behalf of another bank in a different country

    A correspondent bank holds accounts for other financial institutions and executes international payments on their behalf.

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