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International Bank for Economic Co-operation joins SWIFT GPI

International Bank for Economic Co-operation has joined SWIFT GPI (Global Payment Innovation).

By connecting to SWIFT GPI, IBEC plans to increase the speed and transparency of international settlements, which allows its corporate clients to track their financial flows at all stages of making payments, receive full information about tariffs and commissions, and as a result – optimize their liquidity management, increase the level of trust between business partners. Banks using SWIFT GPI will be able to more effectively monitor compliance with standards, as well as settlement and credit risks.

Currently, more than 600 financial institutions around the world have connected to the SWIFT GPI service. IBEC, continuing to improve its products and services, provides its customers with the most modern solutions, both in technological and commercial aspects. The system supports settlements in any currencies, including in the currencies of the IBEC member countries and will make the support provided by the Bank to the development of international economic and trade relations even more effective.