SWIFT launches gpi payment analytics: „costs will be lower and payments will be faster”

After seeking out comprehensive feedback on gpi Observer Insights from a number of gpi members, SWIFT is proud to announce the launch of gpi Observer Analytics.

„This new resource offers gpi member financial institutions detailed insights on both their gpi traffic flows and the gpi community’s overall traffic, providing them with unprecedented levels of actionable business intelligence.”, according to the press release.

The analysis the solution provides allows financial institutions to better understand the current itinerary and speed of their end-to-end payments, optimise payment routes and fine-tune Service Level Agreements (SLAs) with correspondent banks – meaning costs will be lower and payments will be faster.

These institutions are also able to monitor gpi payments at country, country corridor, currency and correspondent levels, meaning they can see their activity share, view gpi market practices and ultimately identify new business opportunities.

Also, state-of-the-art network visualisations help users spot patterns in the data and easily identify any outliers in their cross-border payment flows.

Harry Newman, Head of Banking, SWIFT, said: “Banks want to have much more information to help them better direct their payment messages. gpi Observer Analytics is designed to give gpi members deeper business insights into their gpi payment flows giving them routing intelligence and allowing them to benchmark against the wider gpi community.”

„Complex data made simple! This is such a powerful tool. It provides a simplistic and customized view on data that was previously difficult to access, analyze and visualize.”, said Larize Nel, Payments Portfolio Manager, ABSA Bank (pilot participant).