Deliver value today and tomorrow
Swift GPI is based on common standards and built with openness in mind, enabling financial institutions to meet the needs of today. It also lays the ground for the next generation of securities services.
Financial institution transfers
Swift GPI support all payment types, including MT 202 and MT 205 message types used by financial institutions to send inter-bank payments. This enables securities players to benefit from the gpi service for all their payment needs.
gpi Tracker
The cloud-based Swift GPI Tracker provides end-to-end visibility on the status of a payment from the moment it is sent through to the moment it is confirmed.
The Tracker can be updated by FIN message or via API. It is easily accessible through a graphic user interface (GUI) and can be embedded into existing back-office systems using API calls.
Bringing the benefits of gpi to the entire Swift community
Payment confirmations
From November 2020, it will be mandatory for every Swift financial institution to provide a confirmation of credit to the end beneficiary within two business days on all MT 103 payment messages (and confirmations will soon be supported on MT 202 messages also). Confirmations provide finality on payment transactions, enabling the smooth running of capital markets.
Stop and recall
The Swift GPI stop and recall functionality enables financial institutions to immediately stop payments in flight, reducing the risk of fraudulent or erroneous transactions. By sending a stop and recall request, the payment will be automatically stopped and all other gpi financial institutions in the payment’s chain will be notified via the Tracker.
Business Intelligence
Swift’s Business Intelligence tool, gpi Observer Insights, monitors gpi members’ adherence to the gpi rulebook.
Having this data at your fingertips enables you to measure your performance against your counterparts to make informed decisions on your business relationships.
Want more details about Swift GPI?
Get in touch with our Swift GPI experts to get your questions answered.
Coming soon...
Visibility on incoming payments
We are currently working with a group of pilot participants to develop a service which gives visibility on incoming payments, based on gpi, to bring transparency on receivables.
Case resolution
The Swift case resolution service allows for dynamic query handling between financial institutions on the Swift network, enabling them to quickly resolve instances in which required operational, regulatory or compliance information is incorrect or missing from payment instructions.
Request to pay
A request to pay service is under development and currently being piloted. The solution will enable a fully end-to-end payments experience, directly from invoice generation through to confirmation.
