Payments News


SWIFT gpi – Unlocking The Future of Correspondent Banking

“In the largest change in cross-border payments for the last 30 years, leading banks came together with SWIFT to create the global payments innovation initiative – SWIFT gpi. Adoption of SWIFT gpi has been rapid and continual since its launch in January 2017.The service now processes US$100 billion in cross-border payments daily. Over 85 banks are live globally, with 300 in the implementation phase. In Africa, the number is growing steadily, with 28 African banks signed up and four already live –Standard Bank of South Africa, FirstRand Bank, ABSA Bank and Nedbank.”