SWIFT GPI

Every GPI payment is assigned a Unique End-to-End Transaction Reference (UETR), a 36-character UUID generated at initiation and carried through every step of the correspondent chain. Each bank processing the payment updates a centralised SWIFT Tracker with real-time status: received, processing, fees deducted, forwarded, credited. The originating bank and payment initiator can query this tracker at any time.

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GPI commitments: participating banks commit to crediting incoming GPI payments to the next bank or beneficiary on the same business day (in the recipient's time zone); passing payments with all remittance information intact without truncation; and displaying fees deducted at each step so the sending party can see what the recipient will actually receive.

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SWIFT Stop and Recall allows initiating banks to stop or recall a GPI payment within minutes if fraud or error is detected, a critical fraud response capability. The Case Resolution service enables real-time exception handling, reducing investigation times from days to hours.

Before GPI, a cross-border wire transfer was a black box: the sending party knew when they sent it and approximately when it might arrive, but had no visibility into processing, fees being deducted, or where it was held up. Investigations could take weeks. GPI transformed this: nearly all GPI payments are credited within 24 hours, and around half within 30 minutes.

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For corporate treasury teams, GPI's tracking transforms cash flow forecasting. Confirmation that a large supplier payment has been credited, with the exact received amount, eliminates the uncertainty of traditional correspondent banking.