Commercial Bank: Towards Safer, Traceable Transfers Powered by SWIFT gpi

​Doha, Qatar: Commercial Bank, Qatar’s pioneering first private bank, has proudly claimed the adoption of Swift Global Payments Innovation (SWIFT gpi), a new standard for cross-border payments, paving the way for safer and traceable international money transfers.

 

Commercial Bank has achieved several milestones in the area of remittances and overseas payments through its well-known ’60 seconds’ and ‘faster’ remittances to over 30 countries.  This has benefitted personal and individual customers in remitting funds overseas. International transfers traditionally go through SWIFT network and involve multiple banks across countries. With the new SWIFT gpi solution in place, Commercial Bank with its worldwide network of correspondent banks is set to facilitate a faster and traceable transfer of funds.

 

The Bank has also made it available for customers through its Corporate Internet Banking and Retail Internet Banking Services to send payments overseas faster and safer than before, whilst tracking them to see what stage the transaction is at.

 

Commenting on this new achievement, Raju Buddhiraju, EGM, Head – Wholesale Banking stated: “We pride ourselves in incorporating such an advanced transfer method. In line with our key role as major player at the forefront of the market, we tirelessly seek to enhance our customers’ experience. For instance, our international transfers powered by SWIFT gpi will now allow our customers to transfer overseas with an upgraded safety, an increased processing speed and enhanced payment transparency and traceability.”

 

Dr. Leonie Lethbridge, EGM, Chief Operating Officer of the Bank added: “CB Smart solutions of the Bank are designed to provide ease of transacting, transparency and above all best customer experience.”