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Take advantage of an increasingly integrated Europe
Initiatives such as the Single Euro Payments Area (SEPA) are bringing markets closer together and increasing cross-border opportunities for corporate organisations and banks alike. By ensuring that your customer and supplier details are correct and can be processed, we can help you take advantage of these opportunities in an increasingly competitive marketplace.
BIC and IBAN Validation
Failure to validate BIC and IBAN details when making EU cross border payments can result in increased costs and poor customer service which affect the profitability of your business. We can help you avoid these problems by identifying incorrect payment details up-front in the process and improving your Straight-Through-Processing rates.
Bank Wizard - Validate and reformat BIC and IBAN data for international payments at the point of capture.
Data Conversion Service - Validate and reformat bulk payments data to BIC and IBAN format for international payments.
Conversion from BBAN to IBAN plus BIC
Under SEPA, the use of BIC and IBAN to identify the bank and account of a payment beneficiary has become mandatory for all cross-border euro payments. By providing an automated service for validating and converting existing domestic payments data to BIC and IBAN standard, we can help you avoid the cost and resource involved with becoming SEPA compliant.
SWIFT payments
To aid centralisation of back office payment and treasury functions, SWIFT has opened up its communications network to allow corporates to exchange financial information with all their banks directly. We support SWIFT by ensuring that your international payments data is correct and can be processed prior to submission, helping reduce rejections and the time and cost associated with rectifying payment errors.
Data Conversion Service - Validate and convert existing customer and supplier bank account details to BIC and IBAN for SWIFT payments.
Bank Wizard - Improve Straight-Through-Processing rates and minimise rejections by ensuring your payment details are in the correct BIC and IBAN format prior to submitting to SWIFT.