StanChart's new public portal offers real-time tracking of cross-border payments

STANDARD Chartered has launched a publicly accessible portal which allows cross-border payments to be traced real-time like how parcel deliveries are tracked.

The new portal - called SC GPI Track - offers the ability to trace all cross-border payments processed by StanChart's major clearing centres to its customers, as well as to their corporate and retail clients, the bank said on Tuesday.

To obtain the status of any payments the lender had processed, the clients and their counterparts need to enter the SWIFT unique end-to-end transaction reference associated with the cross-border payment on the portal.

"With the launch of SC GPI Track, corporations and financial institutions will be able to further facilitate e-commerce by moving money faster. We view that as a sign of leadership, foresight and innovation," said SWIFT chief business development officer Alain Raes.