Tracking Money Globally is Critical for Banks and Customers

Kiran ShettyCEO SWIFT India What does SWIFT mean for Indian customers? International transfers are critical for India as we work towards improving the ease of doing business as a trading partner. SWIFT has already been supporting the India community with its cross-border payments for decades, but with SWIFT gpi, a new paradigm is in place that will facilitate international transactions by making them faster, more transparent and fully traceable.  How will things be different? SWIFT gpi is the biggest change to have happened to correspondent banking in the last three decades. The new service that was initiated by the banking industry  has been live since February 2017 drastically improves customer experience for corporate treasurers. Money is now credited to the end beneficiary in less than 30 minutes and many in seconds. With end-to-end traceability banks can now track where...