Banco Bradesco Joins SWIFT gpi
Banco Bradesco has become the first Brazilian bank to join SWIFT’s global payment innovation (gpi) service. The move will enhance increase the speed, transparency and traceability of cross-border payments.
SWIFT says that nearly 50% of gpi payments are completed and credited to end beneficiaries’ accounts in less than 30 minutes, many within seconds. With more than US$100bn a day now flowing over gpi, it is rapidly becoming the new cross-border standard, helping to generate up to 50% reduction in enquiry costs.