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Abu Dhabi / Emirates Business
The UAE Banks Federation (UBF) and SWIFT, the world’s leading provider of secure financial messaging services, have organized a workshop in Abu Dhabi to raise awareness among professionals working in the ‘payments’ domain in the country’s banking and financial sector about SWIFT Global Payment Innovation (gpi) and compliance.
The workshop, which attracted about 50 attendees, saw a presentation on “Operation: updates on gpi and its roadmap†and various aspects of compliance, including Daily Validation Report and Payments Control Service. SWIFT’s Global Payment Innovation (gpi) initiative aims to improve customer experience in cross-border payments by increasing their speed, transparency, and traceability. Gpi can securely deliver hundreds of billions of dollars in payments around the world in minutes or seconds.
The attendees were also briefed about SWIFT Message Standard 2018 as well as all technical changes that are foreseen for implementation of the standards MT Release 2018. Additionally, the speakers briefed participants about SWIFT’s VNP boxes migration to new models by 2020.
With the objective of enabling users to plan resources and budget allocations for implementation, the presentation highlighted various nuances of the new standard. The workshop also shed light on Customer Security Programme Update on 2018, which supports SWIFT’s customers in the fight against cyber-attacks.
Additionally, the speakers briefed participants about SWIFT’s VNP boxes migration to new models by 2020. They highlighted new features and enhancements that have been introduced to provide higher resiliency, performance and increased security after the adoption of the Juniper SRX345 for SWIFT’s new network connectivity footprint.