PAYScreen is a service that repairs an organizationâs 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 âcleansedâ 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.
âPAYScreen addresses specific, ongoing issues organizations handling cross-border payments regularly face,â said Hugh Jones, President of Accuity. âThis service enables those organizations to achieve maximum efficiency without a great investment in labor and other resources.â