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Six global banks endorse Swift’s new platform for international payments flows

June 30, 2021

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Bank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have all confirmed they’re making preparations to adopt the platform.

Swift has recently rolled out a new roadmap for the platform, claiming it will allow banks “to enable new services, improve efficiency and reduce costs”.

It will look to enhance Swift’s current cross-border payments flows with new features including upfront validation of beneficiary details, central management of exceptions, an extension of SWIFT’s high-speed GPI rails to lower-value payments and new rich data services based on the ISO 20022 standard.

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