On October 18, 2018, SWIFT, a global provider of secure financial messaging services, released a white paper called “Towards frictionless cross-border payments”, which was drafted in collaboration with Citi, to make the public aware of how the corresponding banking ecosystem re-invents itself through the SWIFT gpi and how this can improve customers’ and banks’ experience.
The new technologies and digital services in the financial sector have brought to the surface the need for more transparency, security and consistency in the cross-border payments ecosystem, which is one of SWIFT’s objectives.
According to the paper, some of the reasons that make SWIFT gpi well-suited to transform the corresponding banking ecosystem are:
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