Corporate treasurers have a moment to treasure as Swift has unveiled its new cross-border payments “Tracker” for real-time tracing.
Swift says Tracker is the “cornerstone” of its global payments innovation (gpi) initiative – which went live in February – with the aim to deliver greater speed, transparency and end to end tracking.
Tracker provides a confirmation notice when the money reaches the recipient’s account. It also enables a “more accurate” reconciliation of payments and invoices, “optimises liquidity with improved cash forecasts and reduces exposure” to FX risks with same-day processing of funds in the beneficiary’s time zone.
