SWIFT’s gpi gets support from six Swiss corporate giants
Six Swiss multinationals - including ABB, Nestle and Roche - have urged banks to use the global payments innovation service to improve cross-border payments.
Six Swiss multinationals - including ABB, Nestle and Roche - have urged banks to use the global payments innovation service to improve cross-border payments.
SWIFT’s global payments innovation (gpi) service, which launched in January this year has been boosted by six Swiss multinationals pledging their support.
ABB, Nestle, Roche, SBB, Swiss Re and Wurth issued an open letter encouraging banks worldwide to use gpi in order to improve cross-border payments. The group of six states that it “appreciates SWIFT gpi as it is targeting a long overdue, essential improvement of the customer needs for higher cross-border payment speed, transparency and end-to-end tracking.”
The letter continues: “With considerable industry support across the globe and an increasing number of leading transaction banks committed to the service, we are convinced that SWIFT gpi represents a major improvement in cross-border payments. The increasing number of banks going live on this service addresses the demands of corporate treasurers. Hence, banks cannot afford to not join the initiative and go live as soon as possible. Our expectation is that all of our cross-border payments will be end-to-end SWIFT gpi payments in the future.”