Pre-validation of gpi payments - SWIFTgpi


90% of cross-border payments sent via SWIFTgpi are processed end to end in less than 24 hours, and many in just minutes. 10% of exceptions leading to investigations consume a significant amount of time and resources to correct. 

Incorrect or missing information about the beneficiary bank provided at payment initiation is the main cause of such errors. SWIFT gpi payment pre-validation is here is avoid and fix at the start of payment journey. 

How does it work?

A real-time API-based mechanism will enable sending bank to send and receive API calls over SWIFT to seamlessly check the beneficiary account information with the ultimate receiving banks. This will allow banks to remedy any inaccurate or missing information instantly, reducing delays and costs.

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