With a 90-day update and verification cycle, BankersAccuity offers reliable, comprehensive and trusted SSI payments data
Since the payment data powerhouses of Bankers Almanac and Accuity came together to form BankersAccuity almost a year ago, the combined organization has pooled its resources to enhance its payments offerings, providing the industry with a comprehensive single source of Standard Settlement Instructions (SSIs). This payment data, used by financial institutions to facilitate fast and accurate cross-border payments, helps to reduce settlement risk and improve payment straight-through processing (STP) rates. BankersAccuity gathers this information from more constituent banks than any other payments data provider, resulting in the most reliable and accurate SSI payments data offered in the industry.
BankersAccuity’s SSI payments data is updated and verified on a 90-day cycle, as well as date-stamped by the providing institution. SSIs are provided for each settlement center operated by a bank, including the SWIFT/BIC code that should be used for notifications and confirmations to which the SSIs relate. To proactively gather and validate SSI data from beneficiary banks, BankersAccuity employs more than 100 specialist personnel who concentrate on this process on a daily basis.
BankersAccuity offers 100 percent coverage of more than 160 clearing codes and have been providing premier data solutions to organizations worldwide for more than 175 years, including all of the 250 largest banks around the globe.
“With the combined assets of Bankers Almanac and Accuity, our customers have access to the data they need to save time and ensure payment instructions are set up correctly,” said Hugh Jones, President and CEO of BankersAccuity. “We pride ourselves on having the greatest pool of constituent banks in the world supplying critical SSI data, and we will remain committed to providing users with the information they need to reduce settlement risk and increase STP rates.”