Swift, together with 45 member banks, launched the global payments innovation (gpi) initiative in early 2016, to increase the speed, transparency and predictability of cross-border payments. More than 180 banks have signed up to the service, with over 60 banks now live. As of May 24, 25% of all Swift cross-border payments traffic is now being sent as gpi. Joy Macknight talks to Wim Raymaekers, Swift’s gpi programme director, about the latest developments.
Latest articles from FX & Payments

Correspondent banking steps into a new era
July 2, 2018Correspondent banking relationships may have been scaled back because of a stricter regulatory environment since the financial crisis, but a refocusing of bank strategies, close industry collaboration and exciting new technologies are ensuring cross-border payments are keeping up with the demand. Christian Westerhaus, global head of clearing products, cash management, at Deutsche Bank explains why the future is bright.

Bringing market infrastructures up to speed
July 2, 2018As global market infrastructures modernise across the world, Deutsche Bank’s head of market infrastructure and industry initiatives, cash management, Paula Roels, examines where the global banking industry stands in implementing the landmark ISO 20022 standard, the different approaches to its implementation and the critical factors for success.
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360° payments vision - why the time is right for a holistic view
June 7, 2018The implementation of PSD2 poses far more than a regulatory compliance challenge for the incumbent players, writes Serena Smith, division executive of international payments at FIS.


Riding the real-time payments wave
June 1, 2018While 2017 is widely recognised as the year real-time payments took a qualitative leap forward, 2018 is predicted to be one of transformative change, as innovative services built on top of the new rails come to market. Joy Macknight reports.

UK embraces role of global pioneer in Open Banking
March 1, 2018The UK has taken a giant step into the unknown, launching Open Banking ahead of its European counterparts. While not all the designated banks were ready on time, the initiative lays the groundwork for a range of new propositions for consumers and businesses.

AI and the new age of fraud detection
October 2, 2017Next-generation artificial intelligence tools are ramping up the defence against fraudsters and allowing banks to increase efficiency, reduce headcount in compliance and provide a better customer experience. Joy Macknight reports.

The march of Ant Financial
October 2, 2017Chris Skinner was invited to join Alibaba’s annual Netrepeneurs conference in Hangzhou, China, for star sellers on Alibaba’s Taobao platform. He reports on Ant Financial, the Alibaba spin-off that operates mobile payments app Alipay.

Guy Debelle: why the FX Global Code matters
September 1, 2017The FX Global Code was launched in May 2017 to restore market trust and encourage a well-functioning wholesale foreign exchange market. Now is the time for market participants to sign up to the code and embed best practice in their daily activities, writes the deputy governor of the Reserve Bank of Australia.

Connecting Indonesia: bringing finance to a population of 250 million
April 3, 2017The fourth most populous country in the world spread across more than 6000 islands, banks have struggled to reach out beyond Indonesia's big cities up to now. However, a digital transformation is gripping the country, bringing with it the promise of huge increase in financial inclusion. Stefania Palma reports.