BRUSSELS, Belgium—Financial messaging service SWIFT has announced the arrival of a new service called SWIFT Go.
The service is aimed at helping its customers and small firms make predictable and secure international money transfers.
“It will now be possible for customers to use the SWIFT Go service to make cost-effective money transfers directly from their bank accounts. It’s understood that seven international bank providers are already using the service.” FXcompared said.
SWIFT has included a range of features with its new service, such as increased visibility with regard to payment processing times.
Costs are also more transparent with SWIFT Go, and pre-validation of data is used to enhance the experience.
“There are strong service-level agreements in place between the institutions involved. The new service will build on the SWIFT GPI rails, which have transformed the predictability and speed of high-value payments,” FXcompared explained.
The ‘Vision’
In a statement, a senior figure at SWIFT said that the organization’s goal was to help as many people as possible.
“SWIFT Go is a further step towards achieving our vision of enabling anybody, anywhere, to send money instantly and securely around the world,” explained SWIFT Chief Product Officer Stephen Gilderdale.