International Payments at top speed

17 July 2018

The iBanFirst company joined the pilot service "SWIFT gpi" (global payments innovation) launched by SWIFT.

The goal: more speed and transparency in international payments.

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Explanation

The faster and more transparent is your international payment, the better. But today, you know when you make the payment, but don’t necessarily when it will arrive at your destination. "At iBanFirst, international payments are very fast, but sometimes, because of some intermediary banks, they can take 3-4 days before reaching to the beneficiary's bank. There is a real need for modernization," says Bertrand Godin, payment expert and Middle Office Director at iBanFirst.

before GPI - after GPI graph

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More speed and transparency

An observation that prompted the international secure banking messaging solution SWIFT to launch the service "SWIFT gpi" in pilot mode.

Integrated into the iBanFirst platform, this initiative will simplify and optimize the customer experience during international payments.

How? By allowing you to follow your payments in real time through to the tracker "GPI" of SWIFT.

Once the beneficiary account credited, your company will receive a notification confirming the settlement.

"This responds to a request that our customers make regularly: they want to know the status of their payments, know exactly where payments are and when they arrive at their destination." With the tracker 'SWIFT gpi' - a simple code linked to the transaction that the banks are transmitted - the system can tell us at any time where your payment is" - Bertrand Godin
Another advantage: extremely fast international payments. With the “SWIFT gpi " service, you can make your international money transfers the same day: 50% of the payments made are credited in 30 minutes and 100% in 24 hours maximum.

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iBanFirst tests "SWIFT gpi"

“SWIFT gpi" pilot has already convinced nearly 150 financial institutions around the world and iBanFirst is among the first actors in the sector to have joined the initiative.


No wonder for Bertrand Godin:

Bertrand

«We want to be at the forefront of innovation, by integrating the pilot, we will be able to be among the first to offer this service to our customers.

In general, we monitor all initiatives that can make international payments faster, easier and cheaper for our customers»

 

Pierre-Antoine Dusoulier, CEO and Founder of iBanFirst, to add:

Pierre-Antoine

«International flows are complex and our primary objective is to simplify and continuously improve the customer experience."

Integrating innovative solutions like “SWIFT gpi" into our platform allows us to support our customers in their strategy of managing cash flow and supply chain, thus releasing them time to grow their core business »

CONCLUSION:

The figures attest to the attractiveness of the " SWIFT gpi " pilot: already more than a hundred thousand transactions per day for more than 100 billion dollars, 220 country corridors available (new ones are open daily), and China and United States which accounts for 25% of international payments transfers via “SWIFT gpi“

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