The first video posted on YouTube 26 September 2016, explained that: “Banks around the world are working with SWIFT to deliver the global payments innovation (gpi) initiative and create the next era for correspondent banking. The initiative is a robust response to evolving bank and corporate needs for enhanced customer service and operational efficiency. And it delivers an enhanced value proposition for correspondent banking by addressing key challenges faced by their corporate clients. Watch video here
How the GPI initiative works
The video posted on YouTube 23 February 2017 explains how: “The GPI solution delivers an enhanced value proposition for correspondent banking so that corporates can today receive an enhanced payments service from their banks, with following key features:
- Faster, same day use of funds
- Transparency of fees
- End-to-end payments tracking
- Remittance information transferred unaltered.”
CTMfile take: These videos show how the GPI initiative could transform cross-border payments, but the success all depends on how well the banks and SWIFT deliver the service. Out of 10, likelihood of success and why?
Q - 03: How does SWIFT’s gpi Payment Tracker “in the cloud” work?
What is Payment Tracker and the gpi reference number? What are the benefits for banks and corporates? and How are corporates expected to use it?
SWIFT’s Global Payments Innovation Initiative makes progress: 73 banks now joined
“More banks worldwide collaborate to dramatically improve the cross-border payments experience with greater speed, transparency and end-to-end tracking” - SWIFT
SWIFT’s global payments initiative will really improve your cross-border payments
45 leading banks sign up to SWIFT’s global payments innovation initiative as they hit back in the competition for cross-border payments business. Revolutionary B2B cross-border payment customer experience by 201