It is accounting bookkeeping entries.
If the banks/institutions in question have enough cash-on-hand, i.e. ledger balance large enough to do the transaction it is simply a double-entry accounting done between both institutions who have decided to partake in the trade. If there are intermediary banks involved, then same principal:
Extremely crude way of showing it:
Example: A wish to pay C, via B. A will Debit their Account Corresponding Credit will exist with B. B will Debit their Account Corresponding Credit will exist with C.