Ebury becomes first fintech to go live with Swift gpi
Ebury, which specialises in corporate global transaction services, has become the first fintech company to go live with Swift’s global payments innovation (gpi).
According to Swift, the move marks an “important milestone” with new entrants now joining up in addition to traditional banks.
Harry Newman, head of banking at Swift, says: “It’s clear that the benefits of gpi are being recognised not just by the global banks and corporates who are already using it, but now fintechs.”
Since its launch early last year, Swift explains that half of gpi payments are credited within 30 minutes, many within seconds – and almost 100% within 24 hours – enabling Ebury’s clients to fast-track their international payments.
The service also enables the company’s end-clients to monitor and track their payments globally in real-time.
Mark Hewlett, wholesale banking relationship director at Ebury, adds that gpi has helped improve its “value proposition” to businesses trading internationally, in particular its NGO and SME customers.
Swift states that to date, over 200 financial institutions around the world are signed up to gpi, with over $100 billion in gpi payments being sent daily across 500+ international payment corridors – representing over a third of all Swift payments.
Founded in 2009, Ebury provides cross-border payments in over 140 currencies, risk management, and lending solutions to a range of international organisations, including NGOs, SMEs and corporates.
Headquartered in London with offices in 17 countries, Ebury is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution.
