SWIFT’s gpi for financial institution transfers service has been named Best Sell-Side Reconciliation Platform at the WatersTechnology Sell Side Technology Awards 2021.
Now in their ninth year, WatersTechnology’s annual Sell Side Awards recognise the leading technologies and third-party vendors in their area of expertise. The awards seek to highlight technologies and innovations, developed specifically for sell-side firms, that most effectively promote efficiency, transparency and industry collaboration.
In winning the Best Sell-Side Reconciliation Platform award, SWIFT’s gpi for financial institution transfers service was acknowledged as a market leading innovation that directly addresses the sell side's most pressing needs. SWIFT is proud to accept this accolade and is committed to building upon this success with its new strategy which promises to fundamentally transform securities processing by facilitating instant and frictionless end-to-end transactions through a revamped platform.
On SWIFT's win, Director, Capital Markets Strategy Jonathan Ehrenfeld said: "Receiving this award is a testament to the potential for our new strategy and SWIFT's existing strengths – ubiquity, trust, transparency – and demonstrates the benefits and importance of moving to a transactional paradigm, leveraging the possibilities of our secure, feature-rich platform.”
About SWIFT’s gpi for financial institution transfers service
With the gpi for financial institution transfers service, financial institutions are now able to track and trace both incoming and outgoing financial institution transfers sent over SWIFT and key non-SWIFT clearing and settlement channels. Firms also receive confirmation when the payment reaches the beneficiary’s account servicing institution and when it is credited on the beneficiary’s account.
This enables participants to identify potential exceptions, monitor their settlement and counterparty exposure in real time, and get more accurate and timely information to support their institutional intra-day liquidity forecasting and cash management.