SWIFT / cross-border
PAYMENTS SIGNAL · REFERENCE CARDSWIFT gpi (tracked correspondent payment)
A cross-border correspondent payment that settles bank to bank as before, but carries a UETR in the MT103 and posts each hop's status to the gpi Tracker for end-to-end visibility.
Actors
- Bank Alfa (originator bank)bank
- gpi Tracker (Swift)infrastructure
- Meridian Bank (correspondent)bank
- Nordbank (beneficiary bank)bank
Messages
- MT103
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | MT103 (UETR) — Bank Alfa sends the MT103 carrying a UETR | Bank Alfa → Meridian | message |
| 2 | Status update — Bank Alfa opens the trail on the gpi Tracker | Bank Alfa → gpi Tracker | message |
| 3 | Cover / nostro — Cover moves across the nostro relationship | Bank Alfa → Meridian | settlement |
| 4 | MT103 (same UETR) — Meridian forwards the MT103 to Nordbank | Meridian → Nordbank | message |
| 5 | Status update — Meridian updates the gpi Tracker | Meridian → gpi Tracker | message |
| 6 | Interbank settlement — Money moves from Meridian to Nordbank | Meridian → Nordbank | settlement |
| 7 | CR beneficiary — Nordbank credits the supplier | Nordbank | posting |
| 8 | Confirmation of credit — Nordbank confirms the credit on the Tracker | Nordbank → gpi Tracker | message |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Held — but visible on the Tracker | Nordbank's inbound sanctions screening flags a possible name match against a party in the payment and the payment is placed on a compliance hold pending review. | Delivered to the supplier once the review cleared; settlement between banks was unaffected by the hold. · Interbank settlement stood; only the final credit waited on the compliance review. | Nordbank — Bank Alfa reassures Asha Traders using the live Tracker status while Nordbank completes its review and releases the payment. |