Broadridge Implements SWIFT Global Payments Innovation

Broadridge Financial Solutions, Inc. has integrated SWIFT global payments innovation (gpi) for its corporate clients and is now on-boarding users. The solution, introduced to enhance the speed, transparency and end-to-end tracking of cross-border payments, is now available through Broadridge’s financial messaging application (FinMApp) to all SWIFT members. Having integrated SWIFT Standard Release 2018, Broadridge clients can access the market infrastructure’s gpi technology through FinMApp, which delivers transaction monitoring, management, translation and reporting features on international payments to over 100 multi-national organizations. The move comes in advance of the 2020 deadline set out by SWIFT to transfer all cross-border payments onto its gpi platform. Broadridge’s cloud-based platform FinMApp, will enable corporate and financial institutions to track cross-border payments in real-time, receive status updates and notifications on applicable costs and charges. Through FinMApp, Broadridge clients are now additionally able to deploy a UETR - a unique end-to-end transaction reference - required to identify transactions across national borders or to use the UETR created by any other system linked to FinMApp.