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HSBC joins SWIFT gpi

SwiftgpiHSBC said it has joined SWIFT’s global payments innovation (gpi) service. Around 160 financial institutions across the world are committed to SWIFT gpi, with nearly 50 live on the service. Nearly 50% of SWIFT gpi payments are credited within 30 minutes and over 90% of payments within 24 hours. Those that take longer do so for a clear, known reason – such as extra compliance checks, complex foreign exchange conversions, or regulatory authorizations. Diane S. Reyes, group general manager and head of Global Liquidity and Cash Management at HSBC said SWIFT continues to focus on delivering value to its members and the clients they serve. Its ability to develop new services and functionality helps its members support the needs of their clients and prepares them for the opportunities and challenges of the future.

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