HSBC has joined SWIFT’s global payments innovation (gpi) service.
The gpi service will increase the speed, transparency and traceability of cross-border payments for users, allowing banks to credit payments to end beneficiaries quickly.
It also enables HSBC customers to track the status of a payment in real time and provides an unprecedented level of visibility into each payment, including information about each bank in its path and any fees that have been deducted.
Diane S. Reyes, group general manager and head of global liquidity and cash management at HSBC, said: “SWIFT continues to focus on delivering value to its members and the clients they serve. The organisation’s ability to develop new services and functionality helps its members support the needs of their clients and prepares them for the opportunities and challenges of the future.”
Tom Halpin, global head of payment products, global liquidity and cash management at HSBC, commented: “We are always looking to offer our clients the benefits of increased speed, transparency, security and traceability which have become vital requirements for any business that relies on making or receiving international payments. We remain committed to exceptional client service in the payments space.”
Stephen Grainger, head of UK, Ireland and Nordics at SWIFT, added: “Having yet another of the world’s largest banking and financial organisations go live with SWIFT gpi is a testament to the service, which is quickly becoming the gold standard for international payments.”
