IDFC FIRST Bank Revolutionizes Overseas Transfers with Real-Time Tracking

IDFC FIRST Bank becomes the first Indian bank to offer real-time tracking for overseas remittances, via Swift integration. This pioneering service enhances customer experience by providing end-to-end traceability and boosting transparency in cross-border payments, demonstrating the bank's 'Customer First' approach and commitment to cutting-edge technology.

In a groundbreaking development, IDFC FIRST Bank has emerged as the first Indian financial institution to introduce real-time tracking for overseas money transfers. This service, launched in collaboration with Swift, is available on the bank's acclaimed Mobile Application and Internet Banking platforms, marking a new era of transparency and efficiency in the Indian banking sector.

Chinmay Dhoble, the Head of Retail Liabilities & Branch Banking at IDFC FIRST Bank, highlighted the significance of the new service. 'By adopting Swift GPI services, we reflect our dedication to embracing advanced technologies and transforming the banking landscape. Our customers now possess complete visibility over their international transactions, enhancing convenience and satisfaction,' he stated.

Kiran Shetty, CEO and Regional Head at Swift, praised IDFC FIRST Bank's initiative. 'The bank leads South Asia as the first to implement GPI over APIs with zero-footprint connectivity, offering near-instant payment tracking. We rolled out GPI in 2017 to improve cross-border payment experiences, enhancing speed and transparency. IDFC FIRST Bank's API integration of the GPI tracker elevates customer engagement,' he remarked.

(With inputs from agencies.)