Daily automated updates help improve accuracy and payment straight through processing (STP) rates
By combining the payment data expertise from Bankers Almanac and Accuity, BankersAccuity is pleased to announce the launch of Global Payment Web Service (GPWS). GPWS provides accurate routing information via an enhanced web service, with daily updates. GPWS helps users improve payment straight through processing (STP) rates, avoid incurring repair and rejections fees and save time and money.
GPWS provides information on financial institutions in all major countries globally, including head office and branch addresses, department-specific contact information, SWIFT/BICs and national clearing codes—everything needed to process domestic and cross-border payments. GPWS also validates critical payment codes as well as bank name and location information. All information included in GPWS is obtained directly from official sources including banks and clearing code-issuing authorities, ensuring it provides high quality accurate data.
Whether the web service is hosted by BankersAccuity or deployed within the customer’s own network, all data exchanged via GPWS is secure and employs both HTTPS and WS-Security standards. With the version hosted by BankersAccuity, payments data is accessed by connecting to a web service, saving data installation and maintenance time. For the version hosted within a customer's own network, no data ever crosses the firewall, alleviating any concerns around security.
GPWS makes setting up payment instructions easier by allowing customers to submit a bank code for validation or enter bank name and location details to obtain the correct payment code—ideal for web banking and other payment origination applications.
“BankersAccuity understands that for customers to reach the highest levels of payment efficiency, they require both the highest quality data and the most advanced technology solutions available,” said Hugh Jones, President and CEO of BankersAccuity. “GPWS is another step in our mission to deliver the right information, the right tools and the right functionality to increase payment straight through processing for our customers.”