But Swift is just a messaging protocol, right? It doesn't handle trust at all - like you said, you need an awful lot of documents for a single transfer.
I think what could be gained with a zkp protocol would be timeliness. Not needing to confirm if the client has funds in the other institution manually or from trusting their in house APIs would be pretty nice.
The Brazilian central bank has a system that does essentially that, and wires here (even for very large sums) take seconds to fill, instead of the usual 2 days for US interbank wires.
I think what could be gained with a zkp protocol would be timeliness. Not needing to confirm if the client has funds in the other institution manually or from trusting their in house APIs would be pretty nice.
The Brazilian central bank has a system that does essentially that, and wires here (even for very large sums) take seconds to fill, instead of the usual 2 days for US interbank wires.