What is swift GPI?

SWIFT gpi dramatically improves cross-border payments across the correspondent banking network, and not least for corporates for whom speed, certainty and a smooth international payments experience is an absolute must. Our vision is for instant and frictionless payments, from account to account, anywhere in the world.

What is the speed of cross-border payments on SWIFT global payment innovation?

The speed of cross-border payments on SWIFT global payment innovation (gpi) is generally high with a median processing time of less than two hours. However, payment speeds vary markedly across end-to-end payment routes from a median of less than five minutes on the fastest routes to more than two days on several of the slowest routes.

How many banks are involved in Swift GPI?

There are currently over 200 financial institutions involved in SWIFT gpi. Banks across the globe, including BBVA, have been working for years to make cross-border payments fast and smooth.

What is GPI & why should banks use it?

Through gpi, banks enhance their relevance within the fast-evolving international payments ecosystem by delivering immediate value to end customers. Additionally, gpi increases efficiencies for bank payment operational teams while reducing overall cost.