SWIFT pilots integrated payment validation service as gpi captures more than 50% of payment volumes
14 major banks join pre-validation pilot focused on error detection
Brussels, 5 December 2018 - SWIFT today announces it will begin piloting an integrated pre-validation gpi payments service, focussing on enabling the speedy identification and elimination of errors and omissions in payment messages.
The pilot is the first stage in the roll-out of the ambitious gpi validation programme. The goal of the pilot is to build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.