Swift Will Enter The Verification Of The Account And Eliminate The Delays Of Remittances

Part of international cash transactions still pass with delays or even lose. Swift wants to eliminate these malfunctions by introducing preliminary confirmation of the bank details in which the recipient’s account is. More about what swift system is and how it works, you can read in the appropriate section.

Earlier, the problem of payments was rooted in the wrong data on the recipient – simple trifle like typos in behalf of or error in the account number could be significantly delayed. Especially since such errors are flooded at the final stage of verification of details.

The new feature will avoid such delays – now the bank can pre-conduct all details using the api at the earliest stage, find and settle all data inconsistencies. This technology has already been tested by some banks, now swift wants to introduce it in 200 countries for 11 thousand organizations and 4 billion bank accounts. About this writes financial edition finversia.Ru.

Technology was created with the support of financial organizations. Now it is brought to perfection, analyzing efficiency and possible errors of verification based on the results of millions of money transfers.

Preliminary check of requisites – only one of the features of the new banking platform, which is planned to be introduced into circulation in 2022. It should significantly improve the level of customer service and provide financial instittions near significant opportuties, as well as reduce costs.

According to the new platform – this is a big step for the incarnation of the company’s strategy for the incarnation of seamless payments, which will be even faster, safe and simple. These innovations will benefit both the financial market and consumers.

Meanwhile, the sber continues to diversify its services and plans to develop games for consoles, as well as open a digital store for its products.