SWIFT Technology Center is a part of SWIFT, which is a provider of financial messaging services for customers worldwide. SWIFT, also known as Society for Worldwide Interbank Financial Telecommunication, is a member-owned cooperative that offers communication platforms, products and related services to connect more than 8,000 banking organizations, security institutions and corporate customers in over 200 countries globally. It enables clients to exchange automated, standardized financial information and works for the reduction of operational risks and inefficiencies. The company also brings the financial sector businesses together to work collaboratively for formulating market practices, defining industry standards and debating on the issues of mutual interests. Additionally, it conducts online training sessions, as well as acts as a data carrier to transport messages between several financial institutions.