GLOSSARY
SWIFT gpi
SWIFT's tracking layer for cross-border wires. Every payment carries a UETR that lets sender, receiver, and intermediaries see status, fees deducted, and FX applied — same as a parcel tracking number.
SWIFT gpi (Global Payments Innovation) adds end-to-end tracking, transparency on intermediary fees, and same-day availability commitments to traditional correspondent-bank wires. Each payment carries a UETR (Unique End-to-end Transaction Reference) that any party in the chain can query.
Why it matters
Pre-gpi, the answer to "where's my $200K wire?" was a phone tree of correspondent banks. With gpi, your bank can return the current leg, the lifting fees deducted, and the expected delivery time on demand — material when you're matching a partial payment to a $1M invoice.
Related terms
- UETR
- Correspondent Banking
- ISO 20022
- pacs.008