SWIFT introduces gpi universal real-time payment tracking
SWIFT has announced the extension of its gpi Tracker, enabling all banks to track their SWIFT payment instructions at all times, giving them full visibility over all their payments activity.
- From November a unique end-to-end transaction reference will be included in all payment instructions, giving gpi customers full tracking capabilities across the payment chain
- The Tracker can be utilised by 11,000 customers on SWIFT, across more than 200 countries and territories, and automatically provides status updates to confirm when a payment has been completed.
- The Tracker facilitates more accurate reconciliation of payments and invoices, optimises liquidity and reduces exposure to FX risk, with same-day processing of funds in beneficiaries’ time zones
- As a cloud-based service, the Tracker is available via an API, making it compatible with proprietary banking systems worldwide.