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Introduction

Swift's global payments innovation (GPI) enhancement to its network brings same-day funds transfer to the correspondent banking world, as well as additional services that will address the demands of international corporate customers.

Highlights

  • Around half of international corporates say they would change their banking service supplier, with heavy reliance on manual processes being their major complaint. GPI sets out a roadmap that will allow all banks to offer a minimum level of service that greatly improves the situation.

Features and Benefits

  • Learn how Swift has created a platform that will allow banks of all sizes to improve their corporate offerings.
  • Learn how GPI fits with other international payment infrastructure developments such as immediate payments and blockchain.

Key questions answered

  • How does GPI raise the bar for corporate banking services?
  • Does the new service do enough to help banks address corporates' needs or should Swift be bolder?

Table of contents

Ovum view

  • Summary
  • Swift's approach is slow but sure
  • Phase 2 of GPI will reset the baseline for corporate banking
  • Institutions will still have to build on the platform GPI provides

Appendix

  • Further reading
  • Author

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