INTL FCStone Joins the SWIFT Global Payments Initiative
INTL FCStone Inc., recently announced that is London-centered subsidiary, INTL FCStone Ltd’s Global Payments Division Division has joined the SWIFT global payments innovation initiative.
SWIFT gpi is a partnership of over 110 leading global banks, which bring together their unique expertise in an effort to solve those issues currently impacting global payments, and to promote innovation for cross-border transactions.
The initiative’s mission essentially is to transform the international payments landscape as new technologies emerge, and thereby to facilitate the acceleration of global trade.
Carsten Hils, Global Head of INTL FCStone Ltd’s Global Payments Division, commented on today’s news, “We are honored to help pave the way for the non-bank community to participate in SWIFT gpi, and plan to utilize our unique expertise to promote greater speed, transparency, and predictability for cross-border payments. SWIFT has taken a leadership position in enhancing cross-border transactions and bringing together over 110 leading global banks, in order to improve business operations and supplier relationships, and achieve greater treasury efficiencies.”
INTL FCStone Ltd’s Global Payments Division has teamed up as a non-bank gpi participant due to its specialization in transferring funds in local currency to the developing world on behalf of many of the world’s leading banks.
Steve Gilderdale, Head of UK, Ireland and Nordics at SWIFT, concluded, “We are pleased to welcome INTL FCStone Ltd to SWIFT gpi. As one of the first non-bank participants, INTL FCStone is paving the way for others, helping to further extend our reach across additional payment channels. I would like to thank them for their participation and for the added value they will bring to the initiative.”