Editing SWIFT (section)

===SWIFTNet network===
SWIFT moved to its current IP network infrastructure, known as SWIFTNet, from 2001 to 2005,<ref>{{Cite news |title=SWIFT History |publisher=SWIFT |url=http://www.swift.com/about_swift/company_information/swift_history.page?lang=en |access-date=11 January 2009 |archive-date=26 December 2012 |archive-url=https://web.archive.org/web/20121226183922/http://www.swift.com/about_swift/company_information/swift_history.page?lang=en |url-status=dead }}</ref> providing a total replacement of the previous [[X.25]] infrastructure. The process involved the development of new protocols that facilitate efficient messaging, using existing and new message standards. The adopted technology chosen to develop the protocols was [[XML]], which now provides a wrapper around all messages legacy or contemporary. The communication protocols can be broken down into:

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'''InterAct'''
*SWIFTNet InterAct Realtime
*SWIFTNet InterAct Store and Forward
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'''FileAct'''
* SWIFTNet FileAct Realtime
* SWIFTNet FileAct Store and Forward
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'''Browse'''
* SWIFTNet Browse
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SWIFT provides a centralized store-and-forward mechanism, with some transaction management. For bank A to send a message to bank B with a copy or authorization involving institution C, it formats the message according to standards and securely sends it to SWIFT. SWIFT guarantees its secure and reliable delivery to B after the appropriate action by C. SWIFT guarantees are based primarily on high redundancy of hardware, software, and people.

During 2007 and 2008, the entire SWIFT network migrated its infrastructure to a new protocol called SWIFTNet Phase 2. The main difference between Phase 2 and the former arrangement is that Phase 2 requires banks connecting to the network to use a Relationship Management Application (RMA) instead of the former [[bilateral key exchange]] (BKE) system. According to SWIFT's public information database on the subject, RMA software should eventually prove more secure and easier to keep up-to-date; however, converting to the RMA system meant that thousands of banks around the world had to update their international payment systems to comply with the new standards. RMA completely replaced BKE on 1 January 2009.