Swift is building out its Global Payments Innovation (GPI) service to allow corporations to initiate and track payments across all of their banking partners from a single source.
The new service by Swift marks the end of the pilot phase and the beginning of the full scale launch. The successful pilot involved 22 companies and banks including Airbus, Booking.com, GE, Bank of America, BNP Paribas, Citi, Deutsche Bank, J.P Morgan, Societe Generale and Standard Chartered.
Swift reports it has already achieved rapid initial adoption success of the GPI for corporates program.
“Over 50 corporates and banks, including nine of the ten top cash management banks, have already signed up, and we expect this number to grow significantly in the coming months,” stated Marcus Delbaere, head of corporates and trade at Swift in the press release.