Which of the following banks have become first Indian banks to join SWIFT’s global payments innovation initiative?
Which of the following banks have become first Indian banks to join SWIFT’s global payments innovation initiative?
[A]ICICI Bank and Axis Bank
[B]SBI and Axis Bank
[C]ICICI Bank and SBI
[D]HDFC Bank and SBI
ICICI Bank and Axis Bank
ICICI Bank and Axis Bank have become first Indian banks to join SWIFT’s global payments innovation initiative.The purpose of the initiative is to increase cross-border payments by using SWIFT’s messaging platform. With the initiative, banks will be able to improve the payment experience by offering same day use of funds, more transparency in fees, tracking from one end to the other and more payment information. The initial phase of the global initiative will focus on business-to-business payments. The new service will enable corporates to receive an enhanced payments service directly from their banks.