PCBB, a banking services provider, has reportedly become the 1st bank across the United States to launch a SWIFT gpi (global payments innovation) service. This SWIFT gpi service provides rapid cross-border international payments to various financial institutions as well as their customers.
Through the recent service launch, PCBB will be able to offer unaltered details of remittance information, instant payment tracking, high transparency of fees, and faster payment processing to the International banking clients. The service is easy-to-use, which can be credited to the comprehensive and secure cash management platform of PCBB.
As per the statement made by PCBB’s Senior VP of Operations, Allen Sztukowski, the bank has been significantly offering innovative and reliable solutions for the financial institutions. The SWIFT gpi service, which was integrated seamlessly with its proprietary wire platform, will ensure real-time visibility of the remittance tracking among customers. They can conduct payment research, thereby enhancing the customer response time and offering greater operational efficiencies.
The SWIFT gpi services is a network of nearly 3,900 financial institutions that enable faster payments worldwide. Several payments that are sent through SWIFT gpi are considerably fast. It has the capability to credit 96% of funds within 24 hours as well as process 40% of it in a matter of 5 minutes.
SWIFT’s CEO of the Americas, UK, & Ireland, David Scola, has apparently stated that PCBB has highlighted its commitment to offering enhanced cross-border payment services to clients via the recent addition of SWIFT gpi. The service can improve the transparency and speed of payments and help clients better achieve efficiencies and certainty in their international payments.
According to PCBB’s Senior VP of International Services, Patricio Morillo, the launch of the faster global payment service will benefit clients with a best-in-class payment solution at no extra costs. By adopting the new service, customers can reduce their exposure to FX risks and strengthen their relationships with the business partners.