Receives ET BFSI Innovation Tribe 2018 award in Mumbai
SWIFT has been recognised for technological innovation of SWIFT gpi, winning an award for product innovation at The Economic Times BFSI Innovation Tribe 2018.
The Economic Times BFSI Innovation Tribe 2018 was centred on the theme “Disrupt | Develop | Demonstrate”. The conference was designed and crafted to bring the innovation and banking leaders under one platform to discuss and deliberate the future amidst the current challenges and pressing issues of all time.
An eminent jury consisting of senior leaders from the industry - former chairman of State Bank of India, MD & CEO of NSDL, CEOs of banks and Digital banking heads selected SWIFT gpi winner in the technology product innovation category. The key criteria were innovation, business value and impact that the product has brought in the industry
The awards were aimed at recognising products on the below criteria;
- Innovation in technology
- Business Value of the product
- Impact of the product on the industry
SWIFT gpi has seen incredible growth since its launch in 2017, with over 230 customers now adopting the initiative which is rapidly transforming the cross-border payments landscape. With over 100 billion USD being sent daily over SWIFT gpi, across over 700 international payment corridors, and half of all payments credited end-to-end in less than 30 minutes – the success is clear to see.
The gpi service brings a number of benefits to gpi customers:
- Faster, same day use of funds within the time zone of the receiving gpi member
- Transparency of fees
- End-to-end payments tracking
- Remittance information transferred unaltered