What Is SWIFT gpi and How Has It Transformed International Payments for Corporates

As a fact of life, organizations that send payments internationally or cross-currency, you may have to deal with multiple banks for your payments, treasury, and trade finance needs.

Your international payments can sometimes feel as though you are left in the dark on critical pieces of information - when will the money arrive, how much will be funded to the beneficiary, and what is it's current status - are all common questions.

If you don’t have an established approach on how to handle your international payments, it can be hard to achieve end-to-end integration, central cash visibility, and control across numerous touchpoints.

Using SWIFT gpi for corporates is an established, best practice, and proven approach we provide at CXI. As a trusted international banking group, CXI offers SWIFT gpi as a solution for complex challenges your corporation might face like compliance, bank onboarding, bank reference data, or identity management. Now more than ever, you can modernize the way you think about paying vendors, clients, and employees on a global scale.

"On average, 40% of SWIFT gpi payments are credited to end beneficiaries within 5 minutes, 50% within 30 minutes, 75% within 6 hours, almost 100% within 24 hours." - SWIFT

Our value to corporates goes above and beyond to ensure you have a highly personalized, seamless international payment experience. Treasury and finance teams are quickly realizing that for efficient and scalable ways to deal with payments, there’s no doubt SWIFT gpi is the right solution.  

What is SWIFT gpi?

SWIFT gpi (global payments initiative) is a cutting-edge payment tracking tool. It ensures international payments meet the financial services needs for speed, traceability, and transparency. It also enhances your international payments experience and connects your corporation to the whole financial services industry by using global standards.

Utilizing CXI as your international payments provider lets you tap into SWIFT gpi on every payments sent.

How has SWIFT gpi transformed international payments for corporations? 

International payment processing used to be very inefficient. It had long life cycles, critical payments would take several days, and had tedious and frustrating investigations. This is why the global banking community has collaborated to put in place SWIFT gpi as a new standard for handling international payments.

As a corporation with global payment obligations, we understand you need a seamless international payment experience. We know speed, security, and fee transparency are all key elements for you to run an effective treasury and cash management process.

SWIFT gpi has transformed international payments. It now enables businesses to improve supplier relationships, speed up invoice reconciliation, reduce payment investigations, and achieve greater capital efficiencies.

Since CXI uses SWIFT gpi, you can rest assured you will always get access to the advanced tools for your global payment flows improving your cash forecasting and optimizing your FX liquidity.

SWIFT gpi also enables you to get a payment confirmation notice when the money reaches your recipient’s account. This gives you peace of mind in knowing your beneficiary has been paid, and you have completed your payment journey cycle.

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