Elie Maroun El Asmar (left) and Kashif Rauf
Doha: SWIFT gpi is the new standard in cross-border payments, allowing digital end-to-end tracking, speed and security of cross-border transactions.
HSBC Bank Qatar (HSBC) has joined SWIFT’s global payments innovation service (gpi), enabling greater digital tracking, speed and certainty of cross-border payments to and from Qatar.
SWIFT gpi technology enables financial institutions to provide greater transparency and end-to-end tracking of a transaction, with all involved parties receiving real-time confirmation when a payment is credited.
Kashif Rauf, Country Head of Global Liquidity & Cash Management at HSBC Qatar, said: “Clients will now be able to issue, manage and track their transfers until they are credited in the beneficiary account, through one platform and in real-time. Enquiries on beneficiary payments used to take up to three days; SWIFT gpi reduces this to only a few minutes with payment status visible to clients on HSBCnet.”
Globally, HSBC has enabled SWIFT gpi across 45 countries with more than 90 per cent of HSBC’s payments using the technology, empowering clients to see end-to-end payment status via HSBCnet Track Payments.
Commenting on the launch, Elie Maroun El Asmar, Country Head of Commercial Banking in Qatar said: “HSBC was recognised as the best cash management provider in Qatar by Euromoney this year and with our on-going investment in digital platforms, we are continuing to enhance the overall banking experience for our customers.”
Noor Adhami, Regional Head of Global Liquidity & Cash Management at HSBC MENAT, said: “HSBC’s introduction of SWIFT gpi to Qatar makes cross-border payments simpler, faster and safer for our customers.”
More than 160 financial institutions around the world use SWIFT gpi, with more than $100bn in SWIFT gpi messages sent daily across 350 international payment corridors.
