cross-border payments
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Veritran and Swift Come Together to ‘Overcome Increasing Fragmentation’ of Cross-Border Payments

Global tech firm Veritran has partnered with Swift, the world’s leading provider of financial messaging services, to enable financial institutions to offer an enhanced, streamlined and more transparent cross-border payment experience to their customers.

By joining the Swift Partner Programme, Veritran customers can offer their end users access to several Swift solutions that aim to increase transparency and security in cross-border payments:

  • The Swift ‘GPI Tracker’ enhances transparency in cross-border payments by enabling users to check a payment’s status
  • Payment pre-validation increases security by validating beneficiary data before a payment is sent
  • SwiftRef, Swift’s payments reference data solution, helps to streamline payment operations and enables users to find all the data sets they need in one place
  • Users also gain full visibility of a payment cost, including the FX rate, upfront.
Juan Carlos Botrán, global head of API acceleration at Swift
Juan Carlos Botrán, global head of API acceleration at Swift

Juan Carlos Botrán, global head of API acceleration at Swift, commented: “Collaborations such as this are improving the experience for those sending payments cross-border, while also increasing transparency and security to improve the ecosystem as a whole.

“It’s vital that industry players work together in this way to overcome increasing fragmentation in the cross-border payments landscape.”

Through this collaboration, Veritran and Swift aim to simplify the customer experience and boost the operational efficiency of financial institutions.

Prioritising speed and flexibility

Veritran is dedicated to streamlining seamless banking experiences and leverages its extensive expertise and deep market insights to ensure efficient integration, as well as swift market deployment.

Gabriela Giannattasio, VP of EMEA at Veritran
Gabriela Giannattasio, VP of EMEA at Veritran

Gabriela Giannattasio, VP of EMEA at Veritran, also added: “This agreement is designed to align with the changing market demands, prioritising the need for speed and flexibility with a more transparent and consistent pricing structure for users, the retail sector, small and medium-sized enterprises (SMEs) and large corporates. At Veritran, we’re fully committed to leading the charge towards an innovative future in international payments.”

This collaboration aims to enhance user loyalty by expanding digital access and improving the efficiency of banking operations and end-user experience.

This innovative proposal for financial institutions guarantees instant access to funds globally, enhancing transparency and control over every transaction from start to finish while adhering to existing regulations.

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