SBM joined the SWIFT Global Payment Innovation (“SWIFT gpi”) initiative to meet the increasing requirements of corporates and market infrastructures where there is a need for fast, transparent and trackable cross-border payments.
With growing requirements in the payment ecosystem, banks and corporates need cross-border payments to be open, inclusive and collaborative, with a global reach. SWIFT gpi focuses on delivering the best and most effective way of achieving this. The SWIFT gpi implementation at SBM definitely responds to and resolves the current and unfolding challenges of cross-border payment.
Key benefits of SWIFT gpi
- Faster payment processing: Pay for international goods and services in a fraction of the time.
- Transparency: Provide visibility of bank fees charged and FX rates applied.
- End-to-end tracking: Receive a real-time, end-to-end sight of cross-border payments.
- Liquidity: Improve cash forecasting and optimise their liquidity.
- Visibility: Receive a confirmation notice when the money is credited in the recipient’s account.
- Traceability: Reduces cross-border payment times to minutes. The SWIFT gpi Tracker allows the status of a payment to be tracked in real time.
By joining the SWIFT gpi community, SBM has shown its commitment to make cross border payments transparent and effective in this constant changing world.