City Bank commits to Swift framework to improve cross-border payments

City Bank PLC has committed to adopting a new Swift framework aimed at improving the cross-border payments experience for individuals and small businesses.

Through the initiative, City Bank will guarantee customers full value delivery, no hidden fees and the fastest possible speeds when sending and receiving money internationally, according to a press release.

The bank joined a group of more than 40 banks worldwide that have committed to the framework. Swift announced on March 5 that the participating banks plan to adopt the framework by the end of 2026. The framework was initially launched in September 2025.

City Bank’s commitment comes shortly after it extended Swift’s end-to-end payment tracking capabilities directly to customers, allowing them to monitor international transactions from start to finish.

The bank recently organised a launching ceremony for “Real-Time Global Payment Tracking with Swift GPI” at its head office. The event was attended by Mashrur Arefin, managing director and CEO of City Bank, Kiran Shetty, CEO and regional head for India and South Asia at Swift, and Arpita Ghosh, account director for India and country manager for Bangladesh at Swift, along with other senior officials of the bank.

The tracking system enables customers to follow international transfers in real time when sending funds abroad for tuition fees, medical expenses or other personal needs, ensuring transparency and greater peace of mind. City Bank also said that process optimisation and automated inward remittance handling would help ensure the quickest possible availability of funds for beneficiaries.

“Customer expectations are evolving rapidly in the digital era. Our goal is to ensure every transfer is not just secure, but also visible and accountable from end-to-end,” said Mashrur Arefin.

Kiran Shetty said the initiative would help improve customer experience in cross-border transactions.

He said the participating banks would help make international transactions seamless through Swift’s global network while supporting industry targets for faster and more affordable cross-border payments.