Bankinter launches SWIFT GPI, an international business payments service

Bankinter has launched a new service that will improve, accelerate and provide greater possibilities for international business payments, thus reinforcing the bank’s value proposition in the area of International Business.

The international network Swift meant for businesses the possibility of issuing payment orders anywhere in the world in a totally secure way, leveraging a standardized coding among more than 11,000 financial entities. This model avoids errors when identifying the destination of payments, since there are common codes to identify bank, country, town and office.

From now on, with the improvements provided by Bankinter’s new ‘Swift GPI’, businesses will be able to issue faster and well monitored money transfers, thus optimizing company’s cash management and providing agile response to eventual incidents. The transfer can be completed just in few seconds across the network of banks associated with Swift GPI.

Our Firm has collaborated in the development of the Online Tracking System, providing an intuitive, easy-to-use and very effective tool for monitoring and controlling SWIFT GPI operations ordered by the client. Thanks to this exclusive ‘Tracking Online’ service, the company will be able to monitor the status of its cross-border transfer: when it has been sent and when it has reached the destination bank and the beneficiary. Also, when the destination bank is member of Swift GPI network, it will receive a feedback confirmation message of the successful credit in the beneficiary’s account.