Swift has opened the SwiftDirectories Data Update service, a secure and confidential website where financial institutions can maintain their SEPA-related data. Access to this website is open to any appointed employee of a financial institution. Users can register online and update payments-related data belonging to their financial institution whenever required. From the end of December 2007, Swift will offer two new directories, the BICPlusIBAN Directory and the SEPA Routing Directory, to provide the reference data that financial institutions need to achieve STP.
 Registered users of the SwiftDirectories Data Update service can update their institution’s compliance to the SEPA credit transfer and (at a later stage) direct debit schemes, their operational readiness, their participation in ACHs and CSMs, and IBAN related data such as national bank identifiers applied in IBANs (at a later stage) and the BICs that the institution issues with the IBANs. This service is free of charge. The updated data will be included in the published Swift directories.
A-Team Insight Blogs
Swift Unveils Free SEPA Data Registration Service
Related content
WEBINAR
Upcoming Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings
Date: 21 January 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions...
BLOG
Australia Sees Groundswell in Demand for LEI Registrations
The year 2019/20 saw a doubling of LEI registrations in Australia, according to APIR Systems, a provider of essential infrastructure for the wealth management industry in Australia, including acting as an official registration agent for the issuance of LEIs. Coming into legal force in Australia on October 1, 2019 after numerous postponements, there has been...
EVENT
Data Management Summit London
The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.
GUIDE
MiFID II Handbook – Second Edition
With the compliance deadline for Markets in Financial Instruments Directive II (MiFID II) just over two months away, A-Team Group has updated its MiFID II handbook to bring you the latest details on the regulation’s compliance requirements. Version 2 of the handbook, commissioned by Thomson Reuters, also includes new sections covering data sourcing and data...