Ameriabank has become the first financial institution in Armenia to be named by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) a full-fledged member of the SWIFT global payment innovation (gpi) platform.

Thanks to the SWIFT gpi system, the customers of the bank will get to follow the process of incoming and outgoing transfers, as well as obtain information on the date and amount of money added to the beneficiary’s account without additional inquiries.

SWIFT gpi system also includes such options for overseeing the transfer process as the suspension of transfer by intermediary/correspondent banks and the refusal of transfer and refund.

Customers will be able to get full and detailed information about the transfer process 24/7 by calling the bank’s contact center, or visiting any of the bank’s branches during working hours.

“We are delighted to be the first to adopt the SWIFT gpi system in Armenia and offer customers with unprecedented services,” said Artak Hanesyan, CEO of Ameriabank.

“Not only has Ameriabank created a platform for its corporate and retail customers, but it can also take on the role of a mediator at the regional level. Offering a wide network of international money transfers, SWIFT gpi will give us and our customers the opportunity to follow the transfers in real time. We highly appreciate the importance of SWIFT gpi. It allows you to reduce the number of payment inquiries, optimize the process of reviewing them, track upcoming inbound transfers and improve bank liquidity management. I believe the upcoming SWIFT gpi products (gCASE Resolution, Payment Pre-Validation) will prove even more efficient and help improve the bank's service quality.”

“We are happy to have Ameriabank join the gpi network and are impressed with how the membership process was organized fast and efficiently within 4 months,” said Matthieu de Herring, head of Head of Central and Eastern Europe at SWIFT.

“This indicates that the introduction of the gpi network can be quickly arranged. It is equally effective for any bank irrespective of its size and resources. I encourage other Armenian and regional banks to join our network as well. The more banks join the gpi network, the more powerful and profitable they will become.”

Ameriabank said its partner, Armenian Software, has played a great role in the rapid and efficient integration of the gpi network in the country.

More than 460 banks throughout the world, including Citibank, Commerzbank, Deutsche Bank, Wells Fargo, have already joined the SWIFT gpi, which was launched in 2018. The system transfers top $300 billion a day globally.