SWIFT has confirmed Thursday February 16 as the date on which its global payments innovation (GPI) initiative will go live.
The financial messaging services provider confirmed last September that it had successfully completed the first phase of the gpi initiative pilot, clearing the way for an early-2017 launch. GPI promises to “significantly improve the customer experience in cross-border payments by increasing its speed, transparency and end-to-end tracking”.
Originally launched in December 2015 to deliver a new standard in cross-border payments, the initiative recently launched a Proof of Concept (PoC) to explore the potential of distributed ledger technology (DLT) or blockchain.