Banking News

Swift capitalises on its big data resources with launch of payments analytics tool

Swift capitalises on its big data resources with launch of payments analytics tool

(2 October 2018 – Global) Swift has announced the release of a ‘Business Intelligence gpi Observer Analytics’ tool, aimed at giving member banks deeper insights into their cross-border payment flows.

Following a successful pilot with 17 banks, gpi Observer Analytics is now available to all gpi banks.

The dashboard monitors the progress of gpi payments cross the network at country, country corridor, and currency level, providing banks with the opportunity to optimise payments routings and benchmark their performance against other participants.

The new tool comes as Swift wises up to the value of its big data resources for member banks. Last month it was announced a senior executive form Google had been recruited for a newly-created data analytics position with a brief to extract the value of the banking co-operative’s data assets for the benefit of members and its own future product strategy.

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