BofA Enhances Cross-Border Payments Transparency
(14 December 2020 – United States) Bank of America (BofA) have introduced a cross border payment tracker that enables clients to have real-time visibility through its Swift’s Global Payment Innovation (GPI) module - CashPro.
Swift GPI has been designed to address various aspects of common payment practices and standards across regions. Its also has the benefit of faster payments through Swift GPI instant payment technology. CashPro will operate on Swift’s GPI network and deliver in-depth real-time cross border payment data.
“Our payment tracking tool populates Swift GPI information into a view that can be read easily and acted upon immediately” commented Bank of America Global Product Head, Tom Durkin
“Incorporating Swift GPI data across all relevant customer channels supports our goal of working with the broader transaction services industry to remove friction and bring transparency to cross-border payments” commented Bank of America Head of Global Strategy, David Kretz.
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