Scotiabank implements real-time wire tracking for business customers

Through this development, Scotiabank becomes the first Canadian bank to offer this self-service tracking tool.

The functionality leverages SWIFT’s Global Payments Initiative (SWIFT gpi). This enables Scotiabank business customers to track their wire payments in real-time. Customers access the tool through ScotiaConnect, the bank’s digital business banking channel.

This comes on the heels after the bank launched the wire tracking tool internally in September 2018. In addition, this helped its business customer support groups speedily resolve customer wire status enquiries in one phone call.

Today, the bank expands its pilot and will start rolling out this self-service online wire tracker to its ScotiaConnect business customers. Furthermore, this gives customers on-demand wire status updates. These include precise location information on a wire’s journey to a recipient bank.

Now Scotiabank business customers can access on-demand and real-time information on the status of their wire payment. They can also track it through the whole journey to the recipients bank account.