The "SWIFT" transfer system was developed to aid regional bank fund transfers within the United States.

Question

Quizplus · Accepted Answer

The "SWIFT" transfer system, or the Society for Worldwide Interbank Financial Telecommunication, was developed to facilitate international bank fund transfers, not just regional transfers within the United States. It allows for secure communication and standardized messaging between financial institutions around the world.

The "SWIFT" Transfer System Was Developed to Aid Regional Bank