Maybank first local bank to launch SWIFT GPI service

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has become the first local bank to implement the SWIFT global payments innovation (gpi) service that will enable customers to enjoy speedier, more convenient and secure cross-border remittances.

The country's largest bank by assets is joining a league of 160 major global bank groups in over 200 countries offering this new standard in global payments.

In a statement today, Maybank said the cross-border remittances include same-day overseas fund transfers to beneficiary accounts at banks under the SWIFT gpi platform (for transactions received within the banks' cut-off time and where credit confirmation has been received).

Read more at https://www.thestar.com.my/business/busines...UWLT3CCuztEA.99