Standard Chartered completes 1st 37 seconds overseas payment to India
Business
Standard Chartered pulled off a first for India by processing an overseas payment in just 37 seconds, thanks to SWIFT's new retail payments framework.
The money was routed from Westpac in Australia through Standard Chartered to an Indian account with no waiting around.
SWIFT upgrade boosts speed and transparency
SWIFT's upgraded framework means international transfers are now quicker, with clear fee info upfront and real-time tracking.
P.D. Singh from Standard Chartered said it makes sending money to India feel as easy as a local transfer.
SWIFT India's Kiran Shetty called it a big step for speed and transparency in remittances.