Swift GPI

Transform your customers’ cross-border payment experience by delivering truly fast payments that are fully trackable from end to end. 

Swift GPI is based on existing messaging standards and bank payment processing systems, making it quick and cost-effective to adapt to the new norm. 

Through Swift GPI, banks enhance their relevance within the fast-evolving international payments ecosystem by delivering immediate value to end customers. Swift GPI also increases efficiencies for bank payment operational teams and reduces overall cost. 

Built as a suite of cloud-based tools, Swift GPI allows you to track payments, monitor adherence to SLAs, and consult information related to your Swift GPI member bank counterparties all in one place. It’s that easy. 

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As a corporation, we understand you need a seamless cross-border payments experience. Speed, certainty and fee transparency are all key elements to running effective treasury and cash management processes. 

Swift GPI has transformed cross-border payments, enabling businesses to reduce payment investigations, improve supplier relationships, speed up invoice reconciliation and achieve greater capital efficiencies. 

Hundreds of the world’s leading cash management banks send over $300 billion via Swift GPI every day. And with thousands more planning to implement Swift GPI, it’s set to become the standard for cross-border payments. 

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Market infrastructures benefit from Swift GPI's faster, more transparent, and secure service, ensuring compliance. It facilitates smooth clearing of payments between Swift GPI member banks and seamless transmission across cross-border and domestic markets. Track payments up to the local beneficiary bank, enhancing customer value by sending payments through multiple channels. Swift GPI lowers entry barriers for improved cross-border payment experiences and leverages the Swift GPI platform for future innovations, offering a collaborative, globally inclusive service. 

Swift GPI is shaping the future of cross-border payments. A community of thousands of financial institutions are already leveraging Swift GPI to deliver cross-border transactions that are near real time, transparent, cost effective, and secure. 

Shifting regulation and a pressure to reduce costs and risk, combined with increasing customer expectations, are key areas of focus for the capital markets community. Swift GPI can help in several ways, including reducing the operational costs associated with processing cash payments, decreasing risks associated with incorrect allocations or missed deadlines, and enabling more informed cash management decisions. 

Swift GPI can improve the payments process in many operational areas, including settlement and reconciliation, collateral management, corporate actions, foreign exchange and fund processing. 

Payment application providers are key to achieving global adoption of Swift GPI by the financial community. 

We’re working with you and supporting you end-to-end while you integrate Swift GPI requirements into your application offerings. This covers pre-development to post deployment phases, delivering transparency to the financial community.  

Take a look at Swift GPI and Universal Confirmations publications for more details. 

Cross-border payments have long been perceived as slow and lacking transparency. But, Swift GPI is rapidly resolving these issues. You can work off your existing infrastructure and go live in as little as three months. The scale and success of Swift GPI and the growing need for common interest and a single platform in correspondent banking, means if you’re not in, you’re out! 

Since Swift GPI works off your existing infrastructure, you can go live in just 3 months. The speed, transparency and traceability means there are multiple opportunities for cost saving through Stop and Recall, reduced enquiries and efficiencies through improved cash flow. 

Yes. New features and capabilities continue to be added since Swift GPI launched building on its strong foundation  

Swift is a global co-operative of members that share the same priorities, motivations and goals. So, we do the right thing, in the right way, for the right reasons. As the first Fintech, established nearly 50 years ago, we have a long history of using our expertise, inventiveness and experience to stay ahead of the challenges the world throws at us. Our network is truly global, in a world where critical mass is essential. No one else has the same ability to bring together key players across the ecosystem, to help improve its security, effectiveness and advancement. 

No, the Swift GPI cover service in not an optional service. When implementing the Swift GPI Customer Credit Transfer service, Swift GPI customers are also mandated to implement the Swift GPI cover service. 

The Swift GPI Cover payments service allows financial institutions to reduce settlement/credit risk by sending notifications on the missing cover for any cover settlement identified for a credit transfer leg with no cover initiated in due time. The same UETR on both the advice and cover supports faster reconciliation and then faster availability of funds for the underlying beneficiary.

Yes, the Swift GPI Financial Institution Transfer service is an optional service. 

The Swift GPI Financial Institution Transfer can be implemented either as part of the Swift GPI Customer Credit Transfer service on an optional basis, or independently if the subscribing financial institution wants to begin Swift GPI implementation with the Swift GPI Financial Institution Transfer service only.