National Bank of Kuwait (NBK), in collaboration with ACI Worldwide, has launched SWIFT Global Payments Innovation (gpi) services for its customers.
SWIFT gpi community, which now includes nearly 300 banks, enables the members to transfer and receive funds swiftly across the world to anyone. The payment process also ensures complete transparency.
The new service, which uses built-in gpi capabilities integrated into ACI Worldwide’s global payments engine, enables same day transfer and use of funds.
ACI Worldwide head of real-time payments Craig Ramsey said: “Effectively leveraging the richer data of SWIFT gpi messages will allow NBK to further optimise the customer experience and differentiate against competitors.
“NBK now delivers customers greater transparency and traceability in cross-border transactions, which facilitates better communication and reconciliation for the bank’s customers.”
NBK upgraded its existing implementation to enable the new service. The launch of SWIFT gpi services will also support the bank to develop new value-add services.
NBK general manager –operations group Mohammed Al-Khorafi said: “NBK is committed to maintaining its leading position in Kuwait through ongoing technological innovations – and this means improving efficiency and adopting the latest advancements to offer better services to customers through the implementation of SWIFT gpi.
“ACI’s certified gpi module enabled us to configure ACI’s Money Transfer System and lead as the first bank in Kuwait, and one of the first in the wider MENA region, to become a SWIFT gpi member bank.”