SWIFT Go enables financial institutions to offer payments for low value transactions often initiated by small- and medium-sized enterprises (SMEs) to pay suppliers overseas and by consumers sending money to friends and family internationally. Using tighter service level agreements between institutions and pre-validation of data, SWIFT Go enables banks to provide their end customers a fast and predictable payments experience with upfront visibility on processing times and costs.
The service builds on the rails of SWIFT gpi, that connects more than 11,000 institutions, and 4 billion accounts across 200 countries worldwide. Seven global banks are now using SWIFT Go live: BBVA; Bank of New York Mellon; DNB; MYBank; Sberbank; Société Générale, and UniCredit.
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