Bank al Etihad goes live on SWIFT gpi
Bank al Etihad clients will now benefit from a greatly improved cross-border payments service with real-time payment visibility
Bank al Etihad announced on 19 September 2018 that it has gone live on SWIFT gpi in Jordan.
With SWIFT gpi, the bank’s retail and corporate clients can now securely send and receive transfers across borders with greater speed and enjoy an array of added value features through the recently introduced SWIFT global payments innovation (SWIFT gpi), while facilitating financial stability and fund management.
More than 210 financial institutions around the world have signed up to provide their customers with a faster service, transparency of fees, and end-to-end payments tracking similar to international parcel shipping companies. 76 banks are already live and millions of cross-border payments are being sent across 600 international payment corridors using this new standard.
SWIFT gpi was established to deliver tangible improvements to the cross-border payments experience. It has already increased the speed to seconds in the majority of cases, and it offers transparency of fees and FX. End-to-end tracking allows users to know where their payment is at any moment, in real-time, and the use of Cloud and API technology is enhancing the payment process, making it easier to pass tracker information on to corporate and retail clients.
A range of complementary services are being launched throughout 2018 and 2019, such as a Payment Pre-validation Service and Financial Institution Transfers.