City Bank has taken a significant step towards modernising its cross-border payment services by committing to the adoption of a new Swift framework designed to enhance the speed, transparency, and tracking of international transactions. The move aims to provide customers with a seamless real-time payment experience, allowing them to monitor the progress of transfers at every stage.
Swift, the global provider of secure financial messaging services, announced on 5 March that a number of leading banks are expected to implement the framework by the end of 2026. The framework itself was first launched in September 2025, marking a progressive step in the evolution of international banking operations.
To mark the adoption, City Bank recently hosted an official launch event for its initiative, titled ‘Real-Time Global Payment Tracking with Swift GPI’, at its head office. The ceremony was attended by key figures including Mashrur Arefin, Managing Director and Chief Executive Officer of City Bank; Kiran Shetty, CEO and Regional Head for India and South Asia at Swift; and Arpita Ghosh, Account Director, India and Country Manager, Bangladesh at Swift, along with senior executives of the bank.
During the event, Mashrur Arefin emphasised the strategic importance of the framework for City Bank’s customers. “By adopting Swift GPI, we are empowering our clients with complete visibility over their international payments,” he said. “This initiative ensures transactions are processed faster, securely, and with full transparency, aligning our services with international banking standards.”
Kiran Shetty highlighted the wider impact of City Bank’s adoption: “City Bank’s commitment to Swift GPI sets a benchmark in the region. Real-time tracking, enhanced transparency, and faster settlement times collectively raise the bar for cross-border payments in South Asia.”
The key benefits of the Swift framework for City Bank and its customers can be summarised in the table below:
| Benefit | Description |
|---|---|
| Real-Time Tracking | Payments can be monitored at each step of the transaction journey |
| Faster Processing | Significantly reduced settlement times for international transfers |
| Enhanced Transparency | Detailed insights into fees, timelines, and transaction status |
| Compliance with Global Standards | Aligns banking operations with international best practices |
| Improved Customer Experience | Ensures secure, reliable, and seamless transactions for clients |
With this framework, City Bank aims not only to improve operational efficiency but also to strengthen its position as a regional leader in international banking services. For businesses and individuals involved in global trade, the initiative offers a critical advantage: the ability to track funds in real time and make informed financial decisions swiftly.
Industry analysts suggest that the adoption of Swift GPI by City Bank could also encourage other banks in Bangladesh and South Asia to follow suit, potentially accelerating the digitisation and modernisation of cross-border payment systems across the region.
Overall, City Bank’s move to integrate Swift’s advanced framework represents a substantial leap forward in banking innovation, providing clients with faster, more transparent, and globally standardised cross-border payment services.