National Settlement Depository (NSD), Russia’s central securities depository (CSD), has signed up for SWIFT’s gpi service.
The gpi service is a rapid cross-border payments service that provides real-time payments tracking and transparency on bank fees and foreign exchange rates.
Nearly half of gpi payments are credited within 30 minutes, many within seconds, and almost 100% within 24 hours. The service also enables end-clients to track the status of their payments from end-to-end, and provides visibility into each payment, including information about each bank in the payment chain and any fees that have been deducted.
In addition, NSD has subscribed to SWIFT’s Premium support offering, which offers customers proactive assistance and maintenance.