The SWIFT gpi initiative

Global transaction banks are working together to make a dramatic change in cross-border payments

The SWIFT gpi initiative

The global payments innovation initiative offers a value-added, shared suite of products:


End-to-end payments tracking

Customers are asking for end-to-end transparency of payments, enabling tracking of the payments process and above all, clarity on time of receipt. Until now, this has not been possible with correspondent banking, with each bank only able to guarantee and share information on its leg of the payment.

GPI tracker

Through the SWIFT gpi initiative, banks will be able to provide end-to-end payments tracking. As part of the initiative, SWIFT is developing a Tracker database ‘in the cloud’, securely hosted at SWIFT, to give end-to-end visibility on the status of a payment transaction, from the moment it is sent until it is confirmed.

Initiative members  will be able to log in to the Tracker to instantly check the status of the payments they have sent, those in progress and those that have been received. In future, this will also allow other banks to check the payments that have been sent to them, and to update corporate clients on their payments. 

The Tracker can be updated by FIN Message or via API. It can be accessed via a graphic user interface (GUI) and also via API calls to allow the service to be embedded in other services. As well as end-to-end tracking, it will give transparency of charges and fees deducted and the final amount credited, and show the processing time in each node in the chain and total time of payments execution.


View banks' adherence to the SLA

A key part of the gpi initiative is that SWIFT has created a new service level agreement (SLA) rulebook, which provides the opportunity for smart collaboration between participating banks. We’ve created a central service, the Observer, to track adherence to these new SLAs for all initiative members. All banks that are signed up to the initiative will have access to the Observer, and will have a global view of gpi banks’ adherence to the gpi SLA. All banks involved will be able to quickly pinpoint areas for improvement and work collaboratively towards a better implementation of the respective service level agreement.


The directory lists all gpi members and is hosted on SWIFT’s central reference data utility, SWIFTRef.

More than 80 major banks have joined the SWIFT gpi initiative, which already equates to more than 71% of all cross-border payments on the SWIFT network.  More are joining each day.

Details listed on the Directory will include which banks can send and receive gpi payments by business identifier code (BIC), in which currencies, reachable through what channel, and if a bank acts as an intermediary for gpi payments.
This centrally updated Directory will be a great benefit to all the banks involved, enabling comprehensive end to end path finding for gpi payments – and will be available in a wide variety of formats and access methods from SWIFTRef.

Be part of the SWIFT gpi initiative

Any supervised financial institution that is a member of SWIFT and meets the SLA can join the initiative