The Brussels-based Society for Worldwide Interbank Financial Telecommunications, Swift, is earning itself the unenviable reputation of being the most trouble-plagued international consortium in the world of computer communications: its UKP400m project to upgrade the international electronic links between the 2,500 banks in 46 countries is already two years behind schedule, and while users had hoped […]
The Brussels-based Society for Worldwide Interbank Financial Telecommunications, Swift, is earning itself the unenviable reputation of being the most trouble-plagued international consortium in the world of computer communications: its UKP400m project to upgrade the international electronic links between the 2,500 banks in 46 countries is already two years behind schedule, and while users had hoped to move onto the new system at the beginning of 1989 the board of Swift has confirmed that internal project delays now make this target impossible; there’s no new date but a review is being conducted this month.
