SWIFT gpi tracker

SWIFT gpi
Next level cross-border payments

SWIFT gpi (Global Payments Innovation) is a new standard for international payments. Using SWIFT gpi, financial institutions can send and receive cross-border payments more quickly and securely, with full transparency about location and charged fees.

Based on the new UETR (unique end-to-end transaction reference) in MT103 messages, CoCoNet developed the SWIFT gpi tracker integration into the products MULTIVERSA IFP and MULTIVERSA FIP. The SWIFT gpi tracker, which uses and analyses the SWIFT gpi data, radically improves international payments for corporates. As a result, corporates get more certainty and predictability as well as a smooth international payments experience.

suivi des paiements

Benefits for bank’s customers

  • Fast cross-border payments with more transparency and traceability
  • Machine learning helps to reduce fees and to improve forecasting of transaction times
  • Extremely user-friendly presentation of the SWIFT gpi data
  • Optimisation of the supply chain management as issues can be detected by the customers themselves

Benefits for the bank

  • Additional revenues by a new paid-for service
  • High customer satisfaction due to an uncomplicated cross-border payment experience
  • Cost savings by enabling customers to analyse status, fees and expected timings as well as possible reasons for rejection themselves

New cross-border payment experience

The tracker module in MULTIVERSA IFP uses the SWIFT gpi connector to allow banks’ corporate customers to more effectively forecast and track their international payments and manage their liquidity to meet the needs of their business. Corporate users of the platform can view the exact locations of international payments they have sent, or are due to receive, on their financial dashboards. They can also choose to receive information about expected processing times and charges, and set alerts that highlight the progress of payments.

Additionally, the intelligent system learns from formerly processed transactions and automatically advises users with regard to timings and process optimisation in international payments.

Thanks to the SWIFT gpi tracker functionality, banks are able to provide greater transparency and better predictability around international payments to their corporate customers. This will set them apart from their competitors, helping them to attract and retain business. Banks can also earn additional revenues through the module since SWIFT gpi tracking is a paid-for service.

With the SWIFT gpi tracker in MULTIVERSA products, banks can transform cross-border payment experience by delivering fast payments that are fully predictable and traceable from end to end.

 

International corporates are increasingly demanding real-time information based on machine learning processes in their banking platforms. Banks that want to offer the most up-to-date cash management solutions to their customers must be able to provide intelligent SWIFT gpi services, as well as other sought-after services such as instant payments.

Marcus Klotz,
Head of R&D at CoCoNet

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