Payments News

On The Web

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Companies

Corporates Begin Trials Of Multi-Bank Payments Tracking Across Swift gpi

“Financial messaging network Swift has begun pilot trials of a multi-bank payments tracking service with 12 member institutions and 10 multi-national corporates. The cross-industry collaboration tailors Swift’s global payments innovation (gpi) initiative to cater for the needs of corporate treasuries dealing with multiple banks by providing a single format for end-to-end tracking and integrated flows […]
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Companies

Swift Moves To Universal Adoption Of gpi

“Banking co-operative Swift is to extend its global payments innovation (gpi) scheme to all 10,000 member banks on the network as it faces up to competition from the likes of Ripple and a growing disenchantment with old-school correspondent banking models. The ambition is to move all banks across to the new framework – which promises […]
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Companies

First fintech goes live on Swift’s cross-border payments scheme

“UK-based Ebury has become the first fintech to be a full and active participant on gpi, Swift’s cross-border payments scheme. The move has been hailed as “an important milestone” by Swift which is looking to encourage new non-bank entrants to join the traditional banks already on the service.”
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Companies

Swift releases payments analytics tool

“Financial messaging network Swift is to give member banks deeper insights into their cross-border payment flows with the release of a ‘Business Intelligence gpi Observer Analytics’ tool. The dashboard monitors the progress of gpi payments crossing the network at country, country corridor, and currency level, providing banks with the opportunity to optimise payment routings and benchmark […]

On The Wires

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Companies

SWIFT and SAP join forces to enhance the corporate to bank experience for treasurers

“SAP Multi-Bank Connectivity, a new integrated connectivity solution based on SAP Cloud Platform technology, enables corporate-to-bank connectivity for SAP S/4HANA customers who need to connect with multiple banks, while lowering onboarding costs and increasing transparency and control. Companies can choose between an embedded connection to the SWIFT network, and bank connectivity through their usual banking […]
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Companies

SWIFT gpi reaches $40trillion milestone at two year anniversary

“SWIFT today announces a major milestone in the take-up of gpi with more than $40trn transferred over the service in 2018. Rapid adoption saw the share of cross-border messages using gpi soar from 15% at the start of 2018, to 56% by the end of the year, a year-on-year increase of 270%. More than 3,500 […]
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Companies

“SWIFT announces the launch of an ‘in-flight’ payment investigation and resolution service, available in the cloud, in a significant expansion of its network-wide payments validation toolkit. The new capability allows for dynamic query handling between banks on the SWIFT network, enabling them to quickly resolve instances in which required operational, regulatory or compliance information is […]
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Companies

25% Of All Cross-Border Payments Now Over gpi

“SWIFT’s global payments innovation, launched just 15 months ago, now represents 25% of all SWIFT cross border payment traffic, according to the latest data. SWIFT gpi, the most transformational change in cross-border payments in 30 years, dramatically enhances the customer experience by increasing the speed, transparency and end-to-end tracking capability of payments. It is set to […]