From Bloomberg: Each year, over $900 billion is transferred across borders by banks that are members of the Society for Worldwide Interbank Financial Telecommunications, aka SWIFT. This non-profit coop includes over 10,800 banks, and is the bloodstream on global commerce. It was founded in 1973, and is showing its age. Errors and fees and aging technology make SWIFT a prime candidate for disruption. Enter Earthport, a London-based payment system that works in the cloud and offers banks an alternative method of moving money across borders.
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