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Payments General

Broadridge adopts SWIFT GPI for cross-border payments

Friday 22 March 2019 | 12:16 PM CET

US-based Broadridge Financial Solutions has integrated SWIFT’s GPI for its corporate clients to enhance end-to-end tracking of cross-border payments.

The solution is now available to all SWIFT members through Broadridge’s financial messaging application (FinMApp). FinMApp delivers transaction monitoring, management, translation. and reporting features on international payments.

The solution enables corporate and financial institutions to track cross-border payments in real-time, receive status updates and notifications on applicable costs and charges. Through FinMApp, Broadridge clients can deploy an end-to-end transaction reference (UETR), required to identify transactions across national borders or to use the UETR created by any other system linked to FinMApp.

The solution has been launched ahead of the 2020 deadline set by SWIFT to transfer all cross-border payments onto its GPI platform.

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