Christian Sarafidis, SWIFT
Brussels - SWIFT has announced that
global transaction banks are actively using SWIFT's new global
payments innovation (gpi) service, which opened for live payments
in January 2017. ABN AMRO, Bank of China, BBVA, Citi, Danske
Bank, DBS Bank, Industrial and Commercial Bank of China, ING
Bank, Intesa Sanpaolo, Nordea Bank, Standard Chartered Bank and
UniCredit are live with SWIFT gpi, exchanging gpi payments across
60 country corridors. Additional banks will follow in the coming
"We are delighted that SWIFT gpi is now live and is already enhancing the cross-border payments experience for corporate treasurers," says Christian Sarafidis, Chief Marketing Officer at SWIFT. "A year ago the global financial community pledged to dramatically improve the cross-border payments experience, and today marks a major milestone in delivering on that promise. It further demonstrates the ability of SWIFT and the financial industry to collaborate, innovate and rapidly introduce new solutions."
The new gpi Tracker feature allows banks to provide corporate treasurers with a real-time, end-to-end view on the status of their payments, including confirmations when payments have been credited to beneficiaries' accounts. Remittance information, such as invoice references, can now be transferred unaltered to the beneficiary. SWIFT will also introduce the gpi Observer, a quality assurance tool that monitors participants' adherence to the gpi business rules.