BLOM Bank: Launched Swift global payments innovation (gpi) service

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BLOM Bank: Launched Swift global payments innovation (gpi) service

  • First bank in Lebanon and among few banks in the region to introduce the new SWIFT Global Payments Innovation service (SWIFT gpi) to its clients
  • Set to become the standard for all cross-border payments made on the Swift network by the end of 2020
  • Improves the customer experience in cross-border payments by increasing their speed, transparency and end-to-end tracking
  • Settlement times are now predictable since SWIFT gpi provides tracking information on the status of remittances at all stages
  • It will soon launch additional services to its clients based on Swift gpi, for example, an ability to stop and recall payments (depending on circumstances)
  • There are around 280 banks around the world that are using the service