What does “Payments Integration” mean? For a bank the phrase means, connecting your back-office systems to the SWIFT network without having to doing manual translations. The translations can be as simple as an “.xml” to a “.txt” format or as complex as creating header files from payload files. The application ensures that messages undergo the required validations and processing criteria, designed and curated for every individual customer’s needs, from traceable cross-border payments to streamlining A/P receipts.
Key Take away:
- SWIFT GPI: Overview
- Payments Hub
- Breaking down silos within your organization.