Deutsche Bank has gone live with SWIFT’s global payments innovation (gpi), which aims to make cross-border payments faster and more transparent. The bank went live with its EUR gpi services in November, following the introduction of USD gpi services in October.
Connecting all parties in the payment chain via a cloud solution, the SWIFT gpi architecture has, to date, attracted more than 100 banks from Europe, Asia Pacific, Africa and the Americas. Deutsche Bank is one of an increasing number of banks going live on this journey towards trackable real-time cross-border payments - by the end of 2017 SWIFT estimates this to number 24. The bank now processes its corporate and financial institutions cross-border payments for both EUR and USD via this service offering.