By Anna Fedorova
![global-tech-network-digital-780](https://assets.euromoneydigital.com/dims4/default/14a3ecd/2147483647/strip/true/crop/780x520+0+0/resize/800x533!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F18%2Ffc%2Fde47458a24896a781fbf4501ea6e%2Fglobal-tech-network-digital-780.jpg)
A key player in this space is Swift, which rolled out its global payments innovation (gpi) initiative in 2017 with the aim to create a fast and frictionless cross-border experience.
So far, the service has already been adopted by more than 270 banks worldwide, allowing banks and corporates to quickly send and receive money internationally, with end-to-end tracking, lower fees and greater transparency.
However, Swift does not intend to stop here, with an ambitious plan for a range of further innovations by 2020.
Harry Newman, |
Harry Newman, head of banking at Swift, says: “Over the next couple of years, we will move towards global adoption and at the same time we will have a steady roll out of services. Those are, for example, launching a payment pre-validation service and financial institution transfers.”
Most recently, Swift has collaborated with ACI Worldwide to launch two new services – ACI Swift gpi data service and ACI Swift gpi connect – aiming to make it easier for banks to fully integrate Swift gpi into their systems.