Broadridge integrates SWIFT gpi for enhanced cross border payments

Broadridge Financial Solutions has integrated SWIFT global payments innovation (gpi) with an aim to enhance the speed, transparency and end-to-end tracking of cross-border payments for its users. The solution has been made available to all the SWIFT users through Broadridge’s financial messaging application (FinMApp).

“SWIFT gpi has dramatically improved tracking and monitoring capabilities since its 2017 launch and played a significant role in alleviating friction in cross border payments,” said Alastair McGill, general manager of Broadridge’s Data Control business. “We can now help firms increase operational efficiency and reduce risk by offering gpi through FinMApp, helping all SWIFT members get ahead of today’s challenges to capitalize on what’s next.”

Broadridge clients can access the market infrastructure’s gpi technology through FinMApp, which delivers transaction monitoring, management, translation and reporting features on international payments.  FinMaap will enable cross border payments tracking for financial institutions and will allow them to deploy a  UETR – a unique end-to-end transaction reference, required to identify cross border transactions.

“By adding gpi information to FinMApp, Broadridge clients receive greater visibility into their payments through increased tracking capabilities and can manage risk more efficiently through the payment life cycle,” commented Andreas Günther, executive director of SWIFT Services, Broadridge.

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