One hundred banks, from around the world, have subscribed to the Swift Go service, which facilitates instant international payments to small businesses and consumers in a predictable, highly secure and competitively priced way from their bank accounts. This was reported by Swift’s Director of Products, Stephen Gilderdale, who stressed that “it has transformed the way in which SMEs and consumers make international payments through the banking system.”
Last July, the Swift Go service was launched on the financial market. That it has seven banks that operate worldwide, among which BBVA stands out, as one of the pioneering financial institutions with the service. PagoFX of the Santander group is also part of the system, and recently joined “Deutsche Bank, JP Morgan Chase and China Minsheng Bank, which represent 41 million low-value cross-border payments”.
Deutsche Bank Global Head of Product, Marc Recker, was pleased to have the Swift Go service, arguing: “We are very pleased to launch Swift Go and offer our customers a personalized service that will radically improve the way they operate. that carry out low value international transactions.”
For his part, the representative of the platform said that the service is leveraged on the high-speed rails of Swift gpi in order to strengthen the capacity of banks to serve their clients of small and medium-sized companies, as well as citizens.
Recker also highlighted the benefits offered by the Swift Ir service by joining the financial channels since it is capable of generating the best experience when sending payments because they are safe, predictable, fast and from the beginning it offers the greatest transparency in commissions. Therefore, he expects the service to continue to strengthen in the world financial market.