Saudi Arabia’s National Commercial Bank (NCB) has signed up for SWIFT’s global payments innovation (gpi) service, the secure financial messaging services provider said in a statement Monday. NCB is the first Saudi lender to join forces with over 100 leading banks globally, the statement added.
SWIFT gpi will bring more transparency and traceability to cross-border payments in the Middle East region.
The new service helps corporates grow their international business, improve supplier relationships and achieve greater treasury efficiencies. It also includes the option to immediately stop and recall a payment.
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