WALNUT CREEK, Calif.--(BUSINESS WIRE)--PCBB is the first bankers’ bank serving community-based financial institutions across the U.S. to launch SWIFT global payments innovation (gpi) service. SWIFT gpi provides faster cross-border international payments to community financial institutions and their customers.
Utilizing SWIFT gpi, PCBB will provide its International Banking clients with faster payment processing, greater transparency of fees, instant tracking of payments, and unaltered details of remittance information.
SWIFT gpi is extremely easy to use through PCBB’s comprehensive, secure cash management platform. Additional exciting enhancements are coming next year. According to Allen Sztukowski, Senior Vice President of Operations, “PCBB has a reputation of providing innovative solutions that community financial institutions can trust and rely on. SWIFT gpi, seamlessly integrated with PCBB’s proprietary wire platform, will enable customers to view remittance tracking in real-time. Customers will now be able to do real-time research on payments, thereby enhancing customer response time and delivering greater operational efficiencies.”
SWIFT gpi is a network of over 3,900 financial institutions that offer faster payments across the globe, and the ability to trace remittances from origination to destination. Payments sent via SWIFT gpi are extremely fast, with 96% of funds being credited within 24 hours and 40% processed within 5 minutes.
“By joining SWIFT gpi, PCBB has demonstrated its significant commitment to delivering an improved cross-border payments service to its clients. SWIFT gpi is improving the speed and transparency of payments, helping clients achieve greater efficiencies, and ensuring certainty in international payments," said David Scola, Chief Executive of the Americas, UK and Ireland, SWIFT.
“Launching this faster global payments service to our clients gives them a best-in-class payment solution at no additional cost,” said Patricio Morillo, Senior Vice President of International Services at PCBB. He continued: “Our customers will become even bigger champions to their small business customers by providing quicker payments on goods and services, reducing exposure on FX risks, and strengthening relationships with their business partners, to name a few key benefits.”
About PCBB (pcbb.com)
Founded by community bankers in 1997, PCBB was created with the sole purpose of helping community-based financial institutions become stronger. Our goal was to create an organization that would provide fellow bankers with high-quality, competitively-priced correspondent banking solutions and personalized service. PCBB provides a comprehensive set of products and services covering multiple areas important to our customers, including: correspondent and commercial banking, hedging, and international. PCBB also offers a variety of advisory services ranging from asset liability management, relationship profitability, stress testing, and loan reserve analysis, including CECL. Our services are designed to help you compete more effectively, but we never compete against you for your own customers.
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