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curvicurvi

SWIFT gpi is fast !!

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Source : https://www.paymentsnz.co.nz/documents/213/ThePoint2018-presentation-Bill-Doran-SWIFT.pdf

fast.thumb.jpg.6950a88946be86e9bbb1546b6b53ba1d.jpg

They always speaks about "50% of payments made within 30 minutes"...

But never the "30% that take more than 6 hours" !

 

There are also interesting slides in the presentation :

fast3.thumb.jpg.b2d3c18acd93bfbf54da6b70013cae09.jpgfast2.thumb.jpg.d201c5352cd84482e5f6fef2b74a545b.jpg

 

Hope it wasn't already posted, I think not.

Edited by curvicurvi
My poor english lvl..

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Correct me if I'm wrong, but with multihop to reach banks in all countries, regulatory work in place and constantly being worked on by Ripple, xRapid as a solution for nostro/vostro, incredibly low costs of use, and a clear customer benefit in its use (speed and reliability) doesnt Ripple and XRP fit all of the mentioned criteria?

It almost sounds like SWIFT just said 'yep, they're gonna disrupt correspondent baking'

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“More than 50% of SWIFT global payments innovation (SWIFT gpi) payments are credited to the beneficiary in less than 30 minutes and many arrive in just a few seconds. A significant part of the remaining messages are delayed due to errors in the payment data such as incorrect or missing beneficiary information, and insufficient regulatory data.”

 

http://tradearabia.com/touch/article/BANK/345030

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Personally I dont think it is a knock off. I think it is xcurrent. And I also think Xrapid is being integrated via Teminous (sp). To much info supporting this.  Read up on Sibos. October  25th and 26th. Hopefully they announce using xrapid as settlement on the GPI.

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3 minutes ago, panmores said:

And this groundbreaking gpi speed refers to efficient corridors...

Exactly. A customer of our company based in Moscow recently wired us $63K on Monday, Oct.1st; we got the money in our bank account Friday, Oct. 5th. Fee: $25.00. We would have gotten our money more quickly if our customer had put the $63K in a suitcase, hopped on a jet...

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1 hour ago, Lookatmenow said:

Personally I dont think it is a knock off. I think it is xcurrent. And I also think Xrapid is being integrated via Teminous (sp).

Maybe in the future we'll see the labeling  "Powered by Ripple". Time will tell.

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1 hour ago, 69GTOjudge said:

We would have gotten our money more quickly if our customer had put the $63K in a suitcase, hopped on a jet...

yes this is true. I just realized, to hop on a jet would also cost more. Yes faster.

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1 hour ago, 69GTOjudge said:

Exactly. A customer of our company based in Moscow recently wired us $63K on Monday, Oct.1st; we got the money in our bank account Friday, Oct. 5th. Fee: $25.00. We would have gotten our money more quickly if our customer had put the $63K in a suitcase, hopped on a jet...

But the cost of a jet ? 

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