With the 22 November deadline in sight, many banks across the globe have taken the decision to comply with the Universal Confirmation deadline through sending a simple csv file from the core bank system to the SWIFT alliance access. This light MT103 tracker is provided by SWIFT and it is free. It is intended to assist very small institutions typically
The recently released SWIFT info paper was very clear: gpi payments are fast, they are transparent and predictable and are supporting international trade and capital flows. They are rapidly being adopted for domestic and lower value consumer payments as well. Yet, only a small percentage of the connected SWIFT banks now comply to the gpi standard. So, why is that?