Full end-to-end transparency delivered by
the RBC Express® Track Wire Payments feature gives
companies greater certainty around the status of their wire
payments
TORONTO, June 24, 2019 /CNW/ - Advanced technologies have
enabled enhanced visibility into the real-time status of everything
from online orders and food deliveries to flights and rides,
alleviating the suspense of the wait for customers. Today, the wait
is over for businesses looking for the same transparency and
convenience with their wire payments. RBC, the market leader in
cross-border payments, launched the RBC Express® Track Wire
Payments feature as part of the bank's ongoing commitment to
deliver seamless, digitally-enabled client payment experiences.
This new capability allows business clients to track their wire
payments in real time through the bank's online business banking
channel, RBC Express.
The RBC Express® Track Wire Payments solution leverages
SWIFT's global payments innovation (gpi) technology, the new
standard and the most significant change in cross-border payments
in the last 30 years. Companies can now track their wire payment
from the moment it leaves RBC to the time it reaches the
beneficiary's bank at no additional cost. A transparent view of the
exact status of a wire payment enables businesses to better plan
and optimize their cash flow and predict their liquidity
position.
As an early supporter of SWIFT's gpi initiative, RBC
participated in its international gpi pilot and actively worked
with the gpi Vision Group to help streamline correspondent banking
and improve payment transparency and traceability.
"This is a powerful new digital feature that offers enhanced
visibility into the status of a domestic or international wire
payment," said Lisa
Lansdowne-Higgins, Vice-President, Business Deposits &
Treasury Solutions, RBC, who also represents Canada on SWIFT's global board of directors.
"For the first time, our clients will have a transparent view of
the end-to-end wire payments process, which will result in fewer
inquiries around tracking details and discrepancies around funds
sent versus funds received."
According to SWIFT – the world's leading provider of secure
financial messaging services – more than US$300 billion is now sent daily via SWIFT gpi in
148 currencies. Nearly 50 per cent of gpi payments are credited to
end beneficiaries within 30 minutes and nearly 100 per cent are
credited within 24 hours.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 84,000+ employees who bring
our vision, values and strategy to life so we can help our clients
thrive and communities prosper. As Canada's biggest bank, and one of the largest
in the world based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to more than 16 million clients in Canada, the U.S. and 34 other countries. Learn
more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-sustainability.
SOURCE RBC Royal Bank