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Bankersalmanac increases payments data to assist IBAN verification

Bankersalmanac increases payments data to assist IBAN verification

As part of its continuing strategy to enhance the provision of critical payments data and support IBAN verification initiatives, Bankersalmanac today announces it has further enriched its payments data.

As SEPA continues to drive banks' operational efficiency in Euro payments, Bankersalmanac's enhanced data can help to reduce costly IBAN processing errors, by offering:

* An enhanced IBAN Search providing the relevant SWIFT/BIC for an IBAN alongside essential information such as contact details for individual branches and payments personnel.

* The widest coverage of clearing codes on the market with 304,000 codes across 198 countries.

In addition, Bankersalmanac has enhanced its Standard Settlement Instructions and payments routing data globally and now covers:

* More than 106,000 international banking SSIs categorised by commercial payments, foreign exchange and money markets. These contain the latest date they were confirmed by the institution, to provide dependable and accurate settlement information for the most commonly used transactions.

* Payments systems data outlining the domestic and international payment mechanisms such as Swift, CLS, Target and EBA.

Commenting on the achievement, Kerry Hewson, Director, Bankersalmanac said: "Our brand, global reach and direct relationship with the banks and central data sources mean that financial institutions can rely on us to provide quality payments and settlements data. At Bankersalmanac, we are committed to sourcing and maintaining accurate data in order to help our customers reduce overheads, save time and focus precious staff resource on other business critical processes."