We hear insights from Deepesh Patel, Editor at Trade Finance Global, and Ben Ellis, the SVP Global Head of Visa B2B Connect, reporting from Sibos in Toronto. They highlight the core themes of Sibos: transparency, speed, and security.

Ben Ellis elaborates on the Swift partnership with Visa, focusing on three key elements. First, pre-validation ensures error checks before payments are sent, ensuring accuracy. Second, GPI data offers real-time payment tracking. Lastly, the alliance cloud represents Visa’s move towards a cloud-based connection with Swift, streamlining operations and enabling continuous upgrades.

These initiatives aim to reduce friction, boost transparency, and facilitate faster, error-free money transfers, ultimately enhancing the quality, reliability, and predictability of payments. This partnership holds the promise of simplifying and optimising financial transactions.