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National Bank of Kuwait first in country to implement Swift gpi for faster payments

The National Bank of Kuwait is the first financial institution in Kuwait to implement ACI Worldwide's Swift Global Payment Innovation technology, which allows real-time cross border payments and other enhancements, according to a press release.

Naples, Florida-based ACI, the first certified vendor of the Swift gpi solution, said the technology allows about 300 current member banks to send payments to almost anyone in the world in real time, with full transparency over where the payment resides at any moment.

"Effectively leveraging the richer data of Swift gpi messages will allow NBK to further optimize the customer experience and differentiate against competitors," said Craig Ramsey, head of real-time payments at ACI, in the release. "NBK now delivers customers greater transparency and traceability in cross border transactions, which facilitates better communication and reconciliation for the bank’s customers."