IDFC FIRST Bank leads way in revolutionising real-time tracking of money sent abroad through Swift GPI
Mumbai: IDFC FIRST Bank has become the first Indian bank to offer a real-time tracking service, in association with Swift, for money sent abroad. This is available on the bank’s award winning Mobile Application and Internet Banking platforms.
This marks a significant milestone in the Indian banking industry, demonstrating the Bank’s commitment to delivering seamless and efficient banking solutions, reiterating its “Customer First”
approach.
Customers in India are used to digital payments through UPI or IMPS with real-time status updates and traceability on digital platforms. However, the same hasbeenmissing when it comes to money sent abroad.
With customers expecting end to end tracking of their food delivery or even a parcel, IDFC FIRST Bank has pioneered in providing the same for a critical service like cross-border payments.
Speaking about this integration, Chinmay Dhoble, Head Retail Liabilities & Branch Banking, said, “The introduction of Swift GPI services is a reflection of our dedication to embracing advanced technologies and transforming the banking industry. With real-time tracking, we are empowering our customers to have complete visibility of their cross-border transactions, ensuring enhanced convenience and satisfaction.”
Kiran Shetty, Chief Executive Officer and Regional Head at Swift said, “We congratulate IDFC FIRST Bank for becoming the first Indian bank to go live on GPI over APIs in South Asia with zero-footprint API connectivity. With this, the bank will now be able to provide near real-time tracking of payments to its customers. We launched GPI in 2017 to improve customer experience in cross-border payments by increasing speed and transparency, while providing end-to-end traceability of cross-border payments. By providing the full functionalities of the GPI tracker to its customers via APIs, IDFC Bank will bring a brand-new customer experience to its mobile and internet banking clients.”
