SWIFT won the coveted award for Best Bank Connectivity at the highly respected Treasury Management International Awards for Innovation and Excellence 2018.
SWIFT won the coveted award for Best Bank Connectivity at the highly respected Treasury Management International Awards for Innovation and Excellence 2018. This top recognition for our industry leading solutions includes SWIFT gpi, instant payments and the API blueprint.
During 2018 SWIFT gpi continued to radically transform correspondent banking, now setting a new cross-border standard. Global adoption ramped up throughout the year, as major banks from all across the world joined the service.
SWIFT gpi has dramatically improved the customer experience by increasing the speed, transparency and traceability of payments. And with the support of hundreds of financial institutions, including the world’s 60 biggest banks, it is being used to send hundreds of billions of payments every day – more than half of SWIFT’s cross-border traffic.
As faster payments become the new normal, innovative instant payments services are changing the financial landscape. In 2018, SWIFT played a key role in this transformation by launching an instant payments messaging service for Europe, as well as a messaging service for TIPs – TARGET Instant Payment Settlement. These are the latest initiatives in SWIFT’s global instant payments strategy.
SWIFT is also playing a leading role in unlocking the potential of API technology by providing the neutral collaboration platform to develop the common data standards the industry needs. And last year, in collaboration with European banking standards bodies, SWIFT published a blueprint for common API standards to expedite standardisation to foster financial industry API adoption.
This is an exciting time for our industry, with many new initiatives ongoing that provide improved services to corporate treasurers. We are delighted to be recognised for our contribution to this evolution through services like SWIFT gpi and gpi for Corporates, amongst others, which greatly simplify the cross-border payment experience for corporates worldwide.