Swift gpi: Unveil the Mystery of Cross Border Payments

Evolving technology has ignited a spark in everyone’s mind to improve the experience of cross-border payments. When customers try to transfer money cross-border, they end up encountering costs, delays, and frictions. In short, international transactions have been traditionally under the veil of mystery with no track record and no transparency. To solve this, we implement swift gpi.

SWIFT GPI Unveil the Mystery of Cross Border Payments

Swift gpi: Unveil the Mystery of Cross Border Payments

There was a lack of common standards and an end-to-end payment tracking system which made international transfer challenging enough to handle. Moreover, the manual intervention in the cross-border payments, payment processing inefficiencies, and regulatory jurisdictions were causing headaches for customers and banks’ costs.

What’s the solution to handle cross-border payment? How to protect, shape, and enhance the cross-border future? Every customer demands to know the exact information, especially when to receive and when it has been identified. Customers expect to access money any time, any place, and anywhere. The need to solve cross-border payment has become a necessity!

What is swift gpi?

Cross-border payments are renowned for the challenging trackable record. With the introduction of swift gpi, now the demands of today can be met with certainty. To be more precise, it is carefully innovating for tomorrow’s requirements.

As the new normal for international payments, SWIFT gpi (Global Payments Innovation) is sufficing the compelling demands of banks and corporates such as transparency and speed by reaching end beneficiaries in minutes or even seconds.

It’s an instant, ubiquitous and accessible platform to encourage better client relationships. With SWIFT gpi, banks and corporates now embrace early settlement time to attract more business connections to route a higher volume of payments.

SWIFT GPI Unveil the Mystery of Cross Border Payments
SWIFT GPI Unveil the Mystery of Cross Border Payments

Benefits of swift gpi

Swift gpi is delivering the tangible results as promised. Though there are many obvious reasons to bid on swift gpi, below shared are some of the following that actually focuses on the customers’ queries to resolve the cross-border payment pain points.

After all, swift gpi delivers immediate benefits to banks and their customers; most importantly, it is not dependent on a single underlying technology. It offers an impactful payment solution that can be deployed quickly for tomorrow’s use!

New Trends In API Connectivity

The gpi connector has become quite successful API connectivity offerings since its launch for Financial institutions and corporates. It has been estimated that in 2019, almost one billion API calls were made.

Swift developed new API connectivity trends for all gpi members: the SWIFT Microgateway and SWIFT Software Developer Kit (SDK). These new API trends are now offering cost-effective and flexible access to all future and current API solutions.

Let’s read about the new generation of API connection in detail:
SWIFT GPI Unveil the Mystery of Cross Border Payments

How ECS Fin Can Be Your Best Partner?

Regarding operational efficiency, the increased transparency that gpi brings has a positive impact on the industry. ECS Fin’s IMS swift gpi is acting as a standalone module or as one of the modules within IMS Payments – a PREMIER platform certified by swift that offers solutions for the real-time cross-border payment hub. We can act as a pioneer to help you understand and deploy your solutions with the latest trends of swift gpi: SDK and Microgateway.
With the IMS SWIFT gpi, financial institutions can improve the three characteristics that play an important role in cross-border payments: speed, transparency, and predictability of payments. In fact, IMS SWIFT gpi is offering a single centralized and standardized view across all their banking partners.