Customers will be able to make instant payments over the SWIFT network while connecting with a single gateway to multiple systems. The new solution will be available by November 2018 and after its launch in Europe, it could support instant payments initiatives in other parts of the world.
SWIFT’s instant payments strategy builds on earlier initiative in Australia, where several banks have started using the company’s messaging infrastructure to support Australia’s payments platform, AU NPP.
The payments gateway can be used stand-alone, but it can also be integrated with SWIFT’s Alliance Messaging Hub (AMH), which enables the processing of financial message flows and integration with back office systems.
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