What is a Key Tested Telex (KTT) and how is it different from a regular SWIFT wire transfer?

A Key Tested Telex (KTT) is a secure, bank-to-bank telegraphic message system used for transferring funds or financial instruments. Unlike a standard SWIFT wire (which is a common international payment message), a KTT transfer is often employed for very large transactions or special financial instruments and requires both banks to authenticate the message with matching test codes . In practice, KTT serves a similar purpose to SWIFT for moving funds, but it is automatically enabled on all Prominence Bank accounts (no special activation needed) and is used mainly for high-value, institution-level transfers.