BELLIN, a provider of web-based treasury solutions is one of the Early Adopter TMS providers of the SWIFT gpi for corporates (g4C) project. As BELLIN’s first early adopter customers will begin testing g4C using FIN messages.
SWIFT gpi for corporates (g4C)
The SWIFT g4C project aims to speed up cross-border, global payments by corporates and create complete transparency and visibility regarding payment status and fees. Over 280 banks in more than 200 countries are making the technology available. A tracking feature will enable companies to track payments throughout the entire chain of correspondence.
Currently, about half of all gpi payment orders reach the beneficiary within five minutes and 95% arrive within a day.
Development in tm5
Development in tm5, BELLIN’s treasury management system, has been completed. In the next step, bilateral communication between tm5 and the SWIFT Network as well as with the customers’ banks will be tested. The SWIFT g4C technology based on MT101 messages will be made available to all BELLIN customers with Release 19.1 in April 2019.
With the new release, BELLIN claim that it will become very easy to start using g4C. Companies simply need to register their SWIFT BIC for g4C and select a bank from their portfolio that offers g4C.
SWIFT g4C technology integrated with tm5 will provide BELLIN customers with a dedicated payment reference, i.e. a unique transaction reference (UETR) for gpi payments.
CTMfile take: This will keep the momentum going in the global roll-out of Swift gpi.