Inside a Vietcombank office (Photo: Vietcombank) Hanoi (VNA) - SWIFT has announced that Vietcombank is the first bank in Vietnamto sign up for SWIFT GPI -- its global payments innovation initiative.
The bank joins more than 110 of the world’s major transaction banks that arealready committed to the largest change initiative that the world of crossborder payments has seen in the last 30 years. SWIFT GPI is also bringing in anew world for corporates, dramatically improving the cross-border paymentsexperience of corporate treasurers by enabling enhanced services from theirbanks.
SWIFT GPI went live in January 2017, and is already revolutionisingcross-border payments by combining real-time payments tracking with the speedand certainty of same-day settlement. The service enables enhanced multi-bankbusiness rules, unique end-to-end identification of payment messages across atransaction and a secure “Tracker” database in the cloud that provides real-timetransaction status reporting.
Dao Minh Tuan, deputy chief executive officer of Vietcombank, said “SWIFT GPIprovides an adequate answer to the evolving needs of corporate treasurers byoffering a service that is easy to implement, yet removes the friction thatcurrently exists in correspondent banking, such as the lack of speed,transparency and traceability. We look forward to implementing SWIFT GPI and tokeep enhancing the services we offer our clients going forward, as new featuresget released.”-VNA
VNA
