Business customers at Danske Bank may now monitor their international payments to a number of major banks.
Tracking of international payments has become a whole lot easier for Danske Bank customers.
Thanks to a new online feature, business customers may now follow their payments to a number of major international banks to see how the payment progresses.
Danske Bank is one of the first banks to offer this type of service to its customers on a global scale.
Developed by the international financial cooperative SWIFT, the functionality has been integrated in Danske Bank’s business customer interface Business Online. That allows the monitoring of transactions to take place in an environment already known by customers.
In this regard, Danske Bank is ahead of its competitors.
The monitoring feature was launched for express payments earlier this year, but has now been extended to other types of payments as well.
The new feature increases transparency for customers. Up until now, it has not been possible for the customers to get to know how their payments progress across borders and banks without reaching out to the bank.
The solution is part of SWIFT’s global payments innovation (GPI). Both the sender and recipient bank must be GPI banks in order for the tracker feature to work.
Currently, this applies to 17 major banks worldwide including Bank of America and Citibank. Before the end of 2017, no less than 30 banks will be participating, and a total of 110 banks have committed to join.