BSP Launches SWIFT GPI to Improve International Funds Transfers
The new standard in global payments and is based on existing messaging standards and bank payment processing systems
BSP PNG| Bank South Pacific (BSP) continues to enhance its payment platforms, making it quicker and more secure through the newly introduced global payment system SWIFT Global Payments Innovation (SWIFT GPI) last week.
According to Deputy Chief Operating Officer, Frank van der Poll, SWIFT GPI is the new standard in global payments and is based on existing messaging standards and bank payment processing systems, making it quick and cost-effective to adapt to the new norm.
“For BSP, adapting to this new standard of global payments, allows the bank to send and receive funds quickly and securely to anyone, anywhere in the world, with full transparency over where a payment is at any given moment,” said Mr van der Poll.
He said the tracking of international payments and telegraphic transfers can now be tracked conveniently through online tracking, instead of through corresponding banks which would take longer.
“SWIFT GPI dramatically improves cross-border payments across the correspondent banking network, and especially for corporates of which speed, certainty and a smooth international payments experience is an absolute must, and BSP is pleased to be onboard,” said Mr van der Poll.
Mr van der Poll thanked the BSP International Operations Team under the leadership of Merolyn Samson, the BSP Project Management Office and the BSP IT team who have worked relentlessly together over the last couple of weeks to make it happen.
He said that BSP will continue to look at ways of enhancing its products and services to ensure it gives its customers smooth, convenient and safe experience.