Tracking Collections with SWIFT gpi | Receivables Reconciliation | DBS SME Banking CN

Tracking Collections with SWIFT gpi

Get instant, real-time, online updates for cross-border collections

Tracking Collections with SWIFT gpi

Get instant, real-time, online updates for cross-border collections

At a glance

DBS Bank has launched real-time online tracking of cross-border collections to provide greater digital convenience to its corporate clients.
Powered by SWIFT Global Payments Innovation (gpi), corporates will receive instant updates on where the funds are along the payment chain. With real-time visibility to incoming cash flows, corporates can better manage their cashflows.

Features & Benefits

Visibility of funds

Cashflow is the lifeblood of all businesses. Having the ability to access real-time status updates is vital

Enhanced working capital forecasting

Brings efficiency in cashflow forecasting. Enables clients to send back-to-back payments

Proof that the payment has been sent

Receiving digitized proof of initiation means manual processes are eliminated

How to apply

DBS DigiDocs customers are the first batch customers to use this capability in IDEAL! Customers who have cross-border collections can register in IDEAL to be DigiDocs customers, so as to be the first to use this capability.
We plan to roll out this capability to non-DBS DigiDocs customers in Q3 2021.

Simply call our DBS Business Care at 400 821 8881 or email [email protected]. Our Customer Service Manager will be glad to assist you.

FAQs

	How do I trace my cross-border collections?
	You can trace your SWIFT gpi transactions status through IDEAL. On DBS IDEAL, navigate to Payments, followed by Information for incoming transfers Click on Information tab for Status

	I want to be able to receive an alert from incoming funds. What should I do?
	You can subscribe to Incoming Telegraphic Transfer Notification Alert at the user level for incoming payments.