(30 August 2018 – UK) Ebury has become the first fintech to be a full and active participant on gpi, Swift’s cross-border payments scheme.
Swift, which is looking to encourage new non-bank entrants to join the service has hailed Ebury’s sign up as “an important milestone”.
The speed of settlement, which Swift claims is within 24 hours for almost 100 percent of payments, is something Swift thinks will be especially helpful in its efforts to recruit more non-bank participants from the corporate and fintech sectors.
Ebury, which provides corporate banking services to SMEs, was also the first fintech to directly participate in the Faster Payments Scheme in the UK in March.