HSBC: Becomes first international bank to introduce Swift Payment Pre-validation
- HSBC has made two enhancements to minimize the risk of unnecessary payment delays and deliver a smoother
- SWIFT Payment Pre-validation uses an Application Programming Interface (API) to check beneficiary account details
- Initially introduced SWIFT Payment Pre-validation to inbound payments in the UAE, for both retail and business customers
- The introduction of SWIFT Payment Pre-validation follows on from an enhancement to business banking platform
- Enables pre-validation of international payments made to UK beneficiaries
- SWIFT Payment Pre-validation is an important step in that journey and complements changes already implemented
