The Society for Worldwide Interbank Financial Telecommunications (SWIFT) was founded in 1973 as a way for banks to standardise the exchange of financial transactions. Its shared data processing system and worldwide communications network form today the backbone of the financial system. In the last two decades, information technology has developed tremendously, and with it, the expectations of consumers. Social media, digital experiences and the sharing economy are re-shaping domestic markets. Disruption is there the key word: technology start-ups are being created on an ongoing basis, trying to provide simpler, fully digital experiences by disrupting the established business models, often helped by regulators which are trying to spur innovation and competition. Banks are not insensitive to this context and domestic banking, under pressure for a decade now, has seen a fundamental reshape towards self-service and digital, integrated experiences. Cross-border payments h...