With the new services, customers can gain from same day transfer and use of funds, reduced timelines and better transparency.
ACI Worldwide real-time payments head Craig Ramsey said: “Effectively leveraging the richer data of Swift gpi messages will allow NBK to further optimize the customer experience and differentiate against competitors.
“NBK now delivers customers greater transparency and traceability in cross-border transactions, which facilitates better communication and reconciliation for the bank’s customers.”
Through upgrading its existing implementation, NBK has joined global gpi community that includes around 300 banks.
SWIFT gpi enables banks to send and receive funds rapidly and securely to anyone across the world with full transparency.
The new integration will enable NBK to provide enhanced value-add services for customers, allowing to leverage advanced data as part of the new format.
Claimed to be the first certified vendor of SWIFT gpi solutions, ACI Worldwide enables banks to directly connect with Swift central database to monitor inbound and outbound gpi transactions.
The gpi data service and gpi Connect capabilities are provided under ACI’s UP real-time payments solution and ACI money transfer system.
NBK operations general manager Mohammed Al-Khorafi said: “NBK is committed to maintaining its leading position in Kuwait through ongoing technological innovations – and this means improving efficiency and adopting the latest advancements to offer better services to customers through the implementation of SWIFT gpi.
“ACI’s certified gpi module enabled us to configure ACI’s Money Transfer System and lead as the first bank in Kuwait, and one of the first in the wider MENA region, to become a SWIFT gpi member bank.”
ACI Worldwide, the Universal Payments (UP) company, offers electronic payment services for more than 5,100 organizations across the globe.
The company supports more than 1,000 financial institutions and intermediaries, as well as multiple global merchants to execute $14 trillion in payments and securities each day.
