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.”