SEB has gone live on SWIFT’s global payments innovation (gpi) service. SEB can now offer the improved cross-border payments experience – with real-time payments tracking and transparency on bank fees and foreign exchange rates. Nearly half of gpi payments are credited within 30 minutes, many within seconds – and almost 100% within 24 hours. SEB’s clients can now fast-track their international payments.
The service also enables end-clients to track the status of their payments from end-to-end, and provides an unprecedented level of visibility into each payment – including information about each bank in the payment chain and any fees that have been deducted. SEB will implement the service in the other countries where the bank is active during the coming autumn.