How The SWIFT GPI Feature
Can Bring Value To Your Global Organization
The integration of SWIFT GPI into its Enterprise Financial Hub will bring substantial improvements to the way businesses handle cross-border payments. These features provide quantifiable benefits, including increased transparency, cost savings, and operational efficiencies, all of which contribute to smoother international trade and financial management. Using SWIFT GPI ensures that businesses can confidently navigate the complexities of global payments, supported by an infrastructure that emphasizes speed, transparency, and security.
Enhanced Payment Tracking
Feature Description: Offers end-to-end tracking of payment transactions, allowing businesses to monitor payment status from initiation to receipt in real time.
Business Benefits: Increases operational transparency and customer satisfaction by possibly 30% by providing accurate, real-time status updates, reducing uncertainty and customer service inquiries.
Faster Payment Settlement
Feature Description: Enables expedited processing of cross-border payments, ensuring that funds are credited to the recipient’s account more quickly than traditional SWIFT payments.
Business Benefits: Improves liquidity and working capital management by approximately 40% through quicker settlement times, enhancing cash flow predictability.
Unaltered Remittance Information
Feature Description: Ensures that remittance information is transferred without alteration, maintaining data integrity throughout the payment chain.
Business Benefits: Manual reconciliation efforts are decreased by up to 35% by providing consistent and unaltered transaction data, significantly streamlining accounting processes.
Payment Confirmation
Feature Description: Confirms when funds have been credited to the recipient’s account, providing peace of mind and proof of payment for both sender and recipient.
Business Benefits: Enhances customer and supplier relations by possibly 20% with verifiable proof of payment, reducing disputes and strengthening trust between parties.
Stop and Recall Payments
Feature Description: Offers the capability to stop and recall payments in the event of an error or fraud detection, adding a layer of control and security.
Business Benefits: Reduces financial risk and potential losses by up to 50% by enabling immediate action in case of erroneous or fraudulent transactions.
ISO 20022 Messaging Standard Compatibility
Feature Description: Complies with the ISO 20022 messaging standard, supporting richer data exchanges for better compliance and automation of financial messages.
Business Benefits: Lowers the cost of payment processing by potentially 15% by enabling automation and improved compliance, reducing the need for manual intervention, and enhancing system interoperability.
Fee Transparency
Feature Description: Delivers detailed information on the fees deducted by intermediary banks during the payment process, ensuring full transparency.
Business Benefits: Reduces unexpected costs by up to 25% by providing clarity on fees, helping businesses manage their finances better and avoid unforeseen charges.
