Accuity Provides Comprehensive Clearing System Data to Enhance Payment Routing via Industry-Leading Solution
Skokie, IL – 5 October 2011
The Global Banking Resource™ (TGBR) Provides More Global Clearing Information than Any Other Source to Help Increase Payment Straight Through Processing (STP) Rates and Lower Costs.
Accuity, the leading provider of payment routing data, AML screening data and software and professional services, continues to deliver access to the industry’s most complete database of global payment clearing systems information to maximize choice, lower costs and achieve intelligent payment routing via its powerful online payment look-up tool, The Global Banking Resource™ (TGBR).
By identifying the clearing settlement systems that a bank’s global branches are linked to around the world – such as UK Faster Payments Service, TARGET2, EBA Clearing, Fedwire and others – TGBR allows users to select the optimal route for payment processing based on branch participation, cost structures and settlement timeframes. With more global clearing information than any other source, TGBR gives users the information needed to identify local clearing systems that will increase the payment straight through processing (STP) rate and lower costs.
Accuity’s role as the official provider of the Single Euro Payments Area (SEPA) adherence database, on behalf of the European Payments Council (EPC), allows it to provide further enhanced information, enabling TGBR users to identify which clearing and settlement mechanisms are equipped to make SEPA credit transfers and direct debits.
TGBR’s comprehensive database is powered by the industry’s Golden Copy of critical payment routing data, including SWIFT BICs, international routing codes, categorized Standard Settlement Instructions (SSI) data needed for compliance with SEPA payments and beyond. The solution’s user-friendly interface, powerful search functions and intelligent granular menus provide immediate access to more global payments data than any other payment solution in the industry. By providing comprehensive clearing and payments data, TGBR ensures users are better equipped to make informed decisions, save time and money and manage transaction logistics.
“In the wake of the global financial crisis, institutions are looking for effective ways to reduce costs and increase efficiency,” said Robert McKay, Managing Director of Accuity’s payment solutions. “TGBR is an example of Accuity’s mission to provide the required information, tools and functionality to leverage intelligent payment routing capabilities and increase payment straight through processing – and better-routed payments save institutions both time and money.”