Accuity, the leading provider of global payment routing data, AML screening software and services, today added PAYScreen to its extensive line of Payment Solutions, helping organizations increase payment straight through processing (STP) rates, without adding extra personnel.
PAYScreen is a service that repairs an organization’s payment files by validating existing payment instructions, correcting any invalid payment instructions and highlighting any records that require further research and review. The service provides organizations with a “cleansed” file that can be used to update their internal databases and payment processes.
The validated and/or repaired data includes such information as bank name, address, country, assigned SWIFT/BIC, routing SWIFT/BIC used for IBAN processing, generated or validated IBAN and, in the case of error, an applicable text message.
“PAYScreen addresses specific, ongoing issues organizations handling cross-border payments regularly face,” said Hugh Jones, President of Accuity. “This service enables those organizations to achieve maximum efficiency without a great investment in labor and other resources.”
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