DBS Bank tie-up with SWIFT to launch real-time cross-border payment tracking

DBS Bank has launched real-time online tracking for cross-border payments for its corporate clients, in partnership with SWIFT Global Payments Innovation (GPI). The service can be availed using the bank’s corporate online banking platform ‘DBS IDEAL’. DBS is the first bank in India and Asia-Pacific to offer this service to corporate clients, at no additional cost.

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About the service:

• The new inbound tracking service by DBS Bank will allow corporates customers to see when a payment is on its way and when it is arriving at the beneficiary, which in turn will reduce operational costs and inefficiencies.
• The initiative is expected to benefit around 4,000 corporate and small business clients in India, Singapore, Hong Kong, China, Taiwan, Indonesia and Vietnam.

Important takeaways for all competitive exams:

• Managing Director & CEO of DBS Bank India Ltd: Surojit Shome.
• DBS Bank India Limited Headquarters: Mumbai, Maharashtra.
• DBS Bank India Limited Established: 2014.

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