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Payments General

Bangkok Bank, Kasikorn Bank, Siam Commercial Bank to implement SWIFT gpi

Tuesday 7 November 2017 | 02:19 PM CET

Bangkok Bank, Kasikorn Bank, and Siam Commercial Bank are planning to implement SWIFT`s Global Payments Innovation (gpi).

Together, these Thai banks represent over 70% of cross-border payments flow for Thailand.

SWIFT gpi introduces a new set of business rules and further technical innovation to reduce the friction that exists in cross-border payments and to create more transparency in an effort to improve the supply chain for corporates.

The initiative transforms bank customers' cross-border payments experience by bringing together same day payment, transparency of fees and real-time tracking. It is based on the existing SWIFT rails trusted by the industry for over 40 years.

More: Link
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