First BELLIN Customer Goes Live with gpi for Corporates (g4C)
BELLIN becomes first TMS provider to enable SWIFT gpi within Lite2 for Business Applications framework
BELLIN, a global leader in providing web-based treasury software and services for multinational corporations, has successfully integrated SWIFT gpi for Corporates (g4C) technology in its tm5 treasury management system. BELLIN client Darling Ingredients Inc. just went live with g4C and has processed the first g4C payments in tm5, together with JPMorgan Chase bank. This makes BELLIN the first treasury management system provider amongst the select group of SWIFT gpi for Corporates Early Adopters to offer and successfully implement this new, ground-breaking, fast and transparent method of exchanging cross-border corporate payment messages directly from a treasury management system.
SWIFT gpi for Corporates is a multi-bank payment tracking solution that enables corporates to achieve complete visibility of the status of all their cross-border payments in real time. The key feature of the solution is the standardized tracking of payments across different banks by SWIFT.
Release 19.1 of tm5 by BELLIN, rolled out in April 2019, now technically supports SWIFT g4C technology based on MT101 messages. Support for ISO 20022-based messages for bulk payments from ERP systems that contain a unique tracking reference (UETR) will follow later this year.
In June 2019, SWIFT will make the gpi for Corporates service available to all SWIFT corporate customers. This will then enable all BELLIN clients who use the BELLIN SWIFT Service and have their own BIC to introduce gpi for Corporates, provided a customer’s banks support gpi for Corporates. Various major banks have already added this to their portfolio, others are soon to follow.
“We are very proud to see this new era in cross-border payments come to life in our TMS, together with our pilot customers, their banks and of course SWIFT,” remarks Karsten Kiefer, Product Manager SOLUTION MANAGEMENT at BELLIN. “The speed, traceability and transparency of the first gpi for Corporates payments that have been processed are second to none.”
Early on, BELLIN was spearheading Early Adopter development by completing the testing phase. With the technology now live, BELLIN is once again showcasing its drive for innovation and the strong payments capabilities of the tm5 TMS.