You can choose support for one or all of the below:
Access to the SWIFT Tracker User Interface over our secure connection
A File Upload service for the Confirmations
Access to the SWIFT Tracker using our API
Features and benefits of Bottomline’s SWIFT gpi and Universal Confirmation Technical Solutions:
Gain direct access to SWIFT gpi tracker database, via a Graphical User Interface (GUI), FIN messages or API.
GUI access via the bureau Gateway and SWIFTNet Web Access, leveraging the Multi Factor Authentication service provided by Bottomline today.
FIN messages to update and receive status messages, configured for integration to your payment systems.
APIs via the GPI Connector hosted on our Bureau Gateway with ongoing support with no requirement to install the software themselves. The license is valid for both SWIFT gpi or Universal Confirmations.
Set up and ordering support.
Ongoing maintenance and availability via our Gateway.
Configuration support for speed to market.
We will work with you to identify and implement the changes to you messaging to ensure compliance with the GPI rulebook.
Including additional fields, new code words and additional data required.
Integrated with your existing payment flows
New message flows.
Modify existing flows.
Derive the full value of SWIFT gpi data without re-engineering your back office
Using our transformation services to avoid making significant change to your systems to support the new messaging requirements
Why should banks, FIs and Corporates prioritise SWIFT gpi implementation?
You can’t afford to NOT be a part of the SWIFT gpi network:
4275+ financial institution signed up to SWIFT gpi as if February 2022. 1830 gpi members are ‘live’ with gpi credit transfers covering 151 of the world’s 180 currencies. Every day 1 million cross border payments worth $493bn are sent over gpi across 2940+ country corridors.
Your customers are demanding it:
Corporate customers have threatened to switch banks if they don’t get it e.g. 100% of corporate clients of one European bank onboards all ask for details on what SWIFT gpi offerings are available and they can track this via this via the GPI Tracker, GPI Observer & the GPI Directory. Therefore, banks and FIs that aren’t performing well will be exposed.
SWIFT gpi can improve your operational efficiency:
SWIFT gpi has the potential to improve an institution’s internal processes and save them valuable money and resources. Added transparency will enable your customers to ‘self-serve’ - “it eliminates manual intervention and reduces customer investigations by 50 percent, saving on the cost of resources” (SWIFT Global Payments Innovation Report, August 2018).
There is also the opportunity to build new services and revenue streams:
By leveraging the tracker data and solving for IS0 20022, financial institutions can offer more innovative solutions such as real-time payments and open banking.
What are Universal Confirmations and how are they different to SWIFT gpi?
Universal Confirmations is a SWIFT mandate that needs to be met by November 2020 (available since November 2019) which requires every single customer payment (MT 103 on FIN) has a confirmation that the funds have been credited to the end beneficiary account.
Confirming payments gives you access to the Basic Tracker.
Through the basic tracker you will be able to see the status of your inbound and outbound payments, have visibility of when clients are credited and the confirmed amount. This can be of significant value to your client service teams that are looking to improve customer experience and deliver faster, and clearer reconciliations of payment queries.
Don't just take our word for how we can transform your strategy
Explore various customer use cases for how Bottomline Financial Messaging Universal Aggregator IQ has impacted their institution:
“Bottomline’s UA system has provided an opportunity for us to improve operational resilience, overcome regulatory compliance challenges and scale up quickly to address evolving changes in the market.”
- Narongrit Promfai, Vice President – Investment / Core Banking System
“DGB Bank PLC (DGB) is implementing a new core banking system. Due to the tight timelines, as well as previous difficulties in becoming a SWIFT member, we chose to outsource to Bottomline. The experience of onboarding to Bottomline’s hosted Universal Aggregator solution was straightforward, quick and seamless with the great assistance of the Bottomline project team to help with queries and the end-to-end process. The solution, alongside Bottomline’s Secure Payments and SWIFT CSP service, allows us to focus on the bank’s core business operations, whilst minimizing the risk of payment fraud.”
- Sieng Kimhong, Chief Information Officer
“The cooperation between Paragon and Bottomline was excellent – what you would expect from a partnership.”
- Paul Pahil, Head of Finance Operations
“BMCE Bank International are a long-standing client of Bottomline’s and are very pleased with the service we have been provided with for several years now. The level of governance and regular interaction the bank has with Bottomline ensures a close working relationship and that we are kept updated with the latest payment and industry developments."
- Colin Janes, Head of IT
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