The gpi is a cross-border payments service that provides real-time payments tracking and transparency on bank fees and foreign exchange rates.
The service also enables end-clients to track the status of their payments from end-to-end and provides visibility into each payment, including information about each bank in the payment chain and any fees that have been deducted.
Eddie Astanin, chairman of the board at NSD, said: “NSD takes a proactive approach to the implementation of innovative solutions which create new value for our clients. That is why we think that SWIFT’s gpi service will help provide an improved environment for clients undertaking cross-border payments. We also consider the gpi technology as a promising solution for transactions involving securities.”
He added: “To develop services for our clients, we have to improve the quality of NSD’s operational and technological interactions with SWIFT, a global provider. Thus, our connection to the new direct support service is a logical and timely step. Access to this service will allow NSD to offer effective and high-quality services to clients.”
Alain Raes, chief executive for Europe, Middle East and Africa and the Asia Pacific at SWIFT said: “I am delighted that NSD has signed up for gpi and will be able to extend the benefits to its customers. SWIFT gpi tackles the frictions, costs and delays associated with cross-border payments.”
He added: “By adopting this new standard, NSD will be able to offer its customers a far more efficient cross border payments service. We look forward to seeing other CSDs around the world follow suit.”
