Q. Which bank becomes first Indian bank to offer real-time tracking for cross-border payments through Swift GPI?
Answer:
IDFC FIRST Bank
Notes: IDFC FIRST Bank, in partnership with Swift, has launched a real-time tracking service for international money transfers. It is the first Indian bank to provide end-to-end traceability for cross-border payments. Available on the bank’s mobile app and internet banking, this service supports the “Customer First” approach. The Swift GPI integration lets users track the status of funds, from in-transit to credited stages. It also alerts users to issues like missing recipient information, enabling quick corrections. This innovation brings the speed and transparency of UPI and IMPS payments to international transactions.