Skip to main content

February 28, 2024

Swift Payment Integrations Using MuleSoft

Streamlining International Payments with MuleSoft Connector for SWIFT gpi

Discover how Leadex Systems transformed global payments for a Middle East finance company using their user-friendly Smart Connector. Learn about the solution’s impact on customer experience and the journey towards digital finance leadership.

Client Overview

The client, a leading Middle East finance company aspiring to become a digital-first bank, faced the challenge of providing timely international payment notifications to customers. To meet this challenge, the client sought to leverage MuleSoft’s capabilities in tandem with SWIFT gpi’s innovation.

Challenge

The primary challenge faced by the client was the need to provide timely and accurate updates to customers regarding their international payments. Traditionally, customers had to rely on cumbersome methods such as phone calls or inquiries with recipients to ascertain the status of their payments. This lack of real-time information led to inconvenience for the clients and a less-than-optimal user experience.

Online money transfer with 3d phones and coins

Solution

To address this challenge, the client implemented a solution combining SWIFT Global Payment Innovation (gpi) and MuleSoft. SWIFT gpi, a forward-looking initiative, aimed to bring transparency to fees, end-to-end payment tracking, and confirmation of credit to the recipient’s account. In collaboration with Leadex Systems, the solution took shape with the following steps:

  1. Request for Payment Transactions: Leadex Systems developed a bespoke MuleSoft connector that seamlessly communicated with SWIFT gpi. It allowed the client to send requests to SWIFT gpi, retrieving information on payment transactions changed within the last X minutes.
  2. Real-time Notifications: Leveraging the MuleSoft connector, for each transaction obtained from the SWIFT gpi response, the system initiated real-time notifications to customers. These notifications, delivered via SMS or Slack, provided customers with instant updates on the status of their payments, eliminating the need for manual inquiries.

Integration with SWIFT gpi:
Leadex Systems meticulously aligned the MuleSoft connector with SWIFT gpi’s principles, ensuring transparent fee tracking and end-to-end payment tracking.

Results

The integration of MuleSoft with SWIFT gpi resulted in a transformative outcome for the client. Customers experienced a significant improvement in their payment tracking experience, receiving instant updates on the status of their international payments. The streamlined process eliminated the inconvenience associated with traditional methods, such as phone calls or relying on third parties for information.

As a result of this swift and transparent payment notification system, the client enhanced customer satisfaction, and loyalty, and positioned itself as a digital finance leader in the Middle East. The combination of MuleSoft’s integration capabilities and SWIFT gpi’s innovation played a crucial role in achieving the client’s goal of providing the best digital solutions and unique experiences to its customers.