Belinvestbank the first bank in Belarus to go live on SWIFTs gpi service

Monday 7 October 2019 14:08 CET | News

Belinvest, one of the largest banks in Belarus, has become the first bank in the country to go live on SWIFT\s Global Payments Innovation (gpi).

With SWIFT gpi, the correspondent banking community, together with fintechs, corporates, and others, is collectively removing frictions and reducing the costs associated with cross-border payments.

Since its launch in January 2017, gpi hasimproved the cross-border payments experience for corporates in over 1,100 country corridors. On average, 40% of SWIFT gpi payments are credited to end beneficiaries within 5 minutes. 50% are credited within 30 minutes; 75% within 6 hours; and almost 100% within 24 hours.

Belinvestbank has a vast regional network and is one of the biggest issuers of bank payment cards in the Republic of Belarus.

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Keywords: Belinvestbank, Belarus, SWIFT, gpi, payments , cross-border payments
Countries: World