Swift is a messaging system, but it absolutely does manage trust. Swift messages can be used to transmit contracts and other financial obligations which are nonrepudiatable.
When using Swift, the financial institution crafts the content of the messages, some of which describe the state of their systems (like an account balance). So as a counterparty, you are trusting the institution, the jurisdiction the institution is based in, and the laws and enforcement in that jurisdiction.
If you introduce ZKPs, perhaps you could take the human out of the message authoring for some message types, but those messages would still be based on the state of systems controlled by that institution, and really a lot of the “trust” involved with Swift transaction is the trust that an institution will meet its future obligations (something ZKPs don’t help with at all). So the end result is that as a counterparty, you would still be trusting… the institution, the jurisdiction the institution is based in, and the laws and enforcement in that jurisdiction.
There are other payment systems that don’t have the same features that Swift has (like the ability to send bank guarantees, or proof of funds letters, etc…) like ACH and SEPA. But if those things are needed, you’ll just use Swift, or a different system entirely.
The delay in processing Swift transactions is also a feature not a bug for large institutions. If I send you a Swift payment for $100, unless one of us is on a watch list or something, it’ll just go through without any additional input required from either of us. But if I wanted to send you $1,000,000,000, at that level the banks want the opportunity to scrutinise the transaction for AML and anti-terrorism reasons. There is no definition of what a transaction that is involved in money laundering or financing terrorism looks like, so these checks cannot be automated in any way. If you want your transaction to go through, you have to answer whatever questions the bank officers ask, provide any material they ask for, and this can include literally anything they deem necessary. If the transaction is successfully completed it is not because you met some statutorily defined requirements, or somehow proved you weren’t money laundering or financing terrorism, it is because you convinced the appropriate bank officer that the risk of them being implicated in money laundering or financing terrorism was small enough to be acceptable in relation to processing your transaction. So ZKPs can’t help you here either.