The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Accuity Incorporates Batch Functionality in the New Version of IBAN Payment Resource to Further Enhance Research Efficiency

Accuity, a provider of payment routing data, AML screening software and services, has launched version 3.1 of IBAN Payment Resource, its online look up tool for validating and converting International Bank Account Numbers (IBANs). The newest version offers important enhancements, including batch processing for hundreds, even thousands of records simultaneously.

IBAN Payment Resource’s new batch functionality is an add-on module that allows users to submit one or more files containing information that requires IBAN validation and/or conversion. By enabling users to screen multiple records simultaneously, IBAN Payment Resource eliminates the time consuming and labour intensive process of performing one off look ups and allows users to better manage high volumes of records.

Part of Accuity’s suite of global payment solutions, IBAN Payment Resource offers quick and easy access to all the information needed to efficiently originate or process IBAN payment transactions. As the only vendor to provide both the assigned and correct routing BICs for all converted or validated IBANs, Accuity offers complete, end to end conversion and validation capabilities that are fully supported by a comprehensive and multi-layered verification process. IBAN Payment Resource helps customers convert their legacy account information quickly and efficiently into payment data that’s viable for IBAN transactions, delivering high rates of payment STP and reducing the time and money spent on errors and repairs.

“Accuity recognises the significant challenge of converting legacy account information into valid IBANs particularly for large, multi-national corporations that might have large volumes of such data,” said Malcolm Taylor, managing director, EMEA and APAC for Accuity. “This enhanced service from Accuity will greatly ease this burden enabling corporates to benefit from the lower cost of SEPA-compliant payments.”

Related content

WEBINAR

Recorded Webinar: Strategies, technologies and services for successful corporate actions automation

Rising volumes and increasing complexity of corporate actions are challenging market participants’ efforts to reconcile data, automate corporate actions processing, and contain costs. The culprits causing these challenges include legacy systems, missing skills, manual processes, data quality issues, and a lack of standardisation. Added to these is the increasing complexity of corporate actions such as...

BLOG

SETL Launches Verafide Digital Credentials Platform for KYC, Other Verification Challenges

Blockchain operator SETL’s Verafide subsidiary has launched its open-source platform for verifying digital credentials and identification on the SETL enterprise blockchain, allowing issuers, holders and verifiers to set up and maintain a digital credentials ecosystem. The Verafide platform is aimed at helping firms fulfill their KYC obligations, adopt more seamless and transparent customer onboarding processes...

EVENT

RegTech Summit London

Now in its 6th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...