On September 21, 2020, Alliance Bank was one of the first Ukrainian banks to introduce a new SWIFT GPI technology for its clients making cross-border payments in foreign currency. Innovative SWIFT technology opens new opportunities for the bank to improve the level of service and quality of customer service in international payments.
What does this mean for Alliance Bank customers?
- Increased payment speed: a unique ability to make payments initiated in the SWIFT GPI system within 15 minutes. Almost 100% of initiated payments of banks participating in the SWIFT GPI system are made during the day
- Ability to control payments of Alliance customers in real time - thanks to a unique transaction code transmitted unchanged between all correspondent banks, you can track at what stage of execution of payments and where they are
- transparent information about the commission
“We buy currency for the client throughout the working day, even at 6 p.m. The client has the opportunity to agree on the course of the transaction online. Transactions under the new contract are agreed with compliance in one day, and our team provides professional advice during the conclusion of the contract.
Thus, a comprehensive approach to creating a service for buying and selling currency and sending it quickly allows foreign economic clients to receive the best service on the market from Alliance Bank, ”said Yulia Frolova, Chairman of the Board of Alliance Bank.
What is SWIFT Global Payments Innovation (GPI)?
It is a set of services that increases speed and transparency and provides the ability to track the routes of international payments in real time. It is available throughout the chain of correspondent banks thanks to a unique transaction number (UETR), which remains unchanged throughout the payment route and ensures its identification.
