Wednesday 29 March 2023

NBB, Swift launch innovative cross-border payment service

MANAMA, December 24, 2022

The National Bank of Bahrain (NBB) has signed an agreement with Swift, the world’s leading provider of secure financial messaging services, to introduce Swift-Go payment solution to its customers. 
The new solution will enable faster, transparent and predictable low-value payments with the aim of providing an elevated customer experience to the bank’s end users, said a statement from NBB. 
The partnership was announced at this year’s Sibos Conference, in Amsterdam, it added. 
Swift-Go, an innovative cross-border payment service for low-value transactions, is being launched by NBB in line with its efforts to offer innovative payments and cash management solutions to its customers. 
Swift-Go is a key building block in the Swift strategy, offering instant and frictionless transactions, said senior officials of the bank at the signing ceremony held in the presence of NBB’s Corporate Institutional and Investment Banking (CIIB) team and representatives from Swift.
"Swift’s messaging platform, products, and services connect more than 11,000 banking and security organisations, market infrastructures and corporate customers in over 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages. Swift-Go allows customers to transfer their funds globally and has been adopted by over 250 banks across 70 countries around the world," they stated.
On the innovative cross-border payment service, NBB said it was committed to partnering with leading global organisations to offer the latest solutions that meet the needs of its customer base. 
With the evolving market landscape, customers will benefit from a range of Transaction Banking products and services for an exceptional user experience, it added.-TradeArabia News Service


More Finance & Capital Market Stories

calendarCalendar of Events