For corporate clients and their banks, managing cross-border payments has often been cumbersome and opaque. A lack of real-time tracking and the inability to control payments en route have plagued the process from beginning to end. No longer.
Thanks to the introduction of SWIFT global payments innovation (gpi), the customer experience for both sender and recipient for cross-border transactions is set to improve. This multiyear initiative—being implemented by the global banking community—is designed to provide greater end-to-end transparency, improved speed, and increased flexibility to transmit and cancel payments.
What have been the primary areas of concern for banks and their clients, and how are these being addressed by the new service? What do companies need to know about the benefits that are arriving?
This new White Paper presents the past challenges and the new improvements that SWIFT gpi is delivering for cross-border transactions.