ICICI Bank, SWIFT offer instant facility for cross-border inward remittances

Friday 4 June 2021 10:52 CET | News

India-based banking group ICICI Bank has teamed up with SWIFT to offer a facility that helps overseas partner banks to send instant remittances on behalf of their customers to the beneficiary in India. 

ICICI Bank claims this makes it the first bank in Asia-Pacific and second globally to offer the facility, called SWIFT gpi Instant, for cross-border inward payments.

ICICI Bank reported the service will offer instant credit works by connecting SWIFT gpi with a real-time domestic payments infrastructure.

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Keywords: SWIFT, cross-border payments, banks
Categories: Banking & Fintech | Payments General
Countries: India
This article is part of category

Banking & Fintech