"All 11,000 financial institutions connected to the network should just switch to sending their 15 million messages per day using iPhones. Problem solved."
iPhones are in U.S. jurisdiction. That's a bad idea. Instead, they should send P2P or through SWIFT-like intermediary with signed messages GPG-style over TLS-style links via dedicated lines or Internet lines with high-speed port knocking. It all can be done with highly-secure tech. The tech for bottom of stack from secure CPU's to secure kernels even exists already. SWIFT or some other setup just has to buy it with that pile of money they have.
iPhones are in U.S. jurisdiction. That's a bad idea. Instead, they should send P2P or through SWIFT-like intermediary with signed messages GPG-style over TLS-style links via dedicated lines or Internet lines with high-speed port knocking. It all can be done with highly-secure tech. The tech for bottom of stack from secure CPU's to secure kernels even exists already. SWIFT or some other setup just has to buy it with that pile of money they have.