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Bankers Almanac Expands International Payments Solution at Sibos

August 26, 2009

LONDON, August 26 /PRNewswire/ — Bankers Almanac, the leading provider
of reference data for international payments
(http://www.bankersalmanac.com/addcon/products/payments.aspx), due diligence
and risk assessment has further enhanced its international payments solution
to help improve efficiency in the processing of cross-border and domestic
transactions.

Bankers Almanac’s International Bank Account Number (IBAN) Search allows
clients to validate IBANs through to the clearing code level and identify the
issuing bank if the IBAN is invalid. To enable compliance with Single Euro
Payments Area (SEPA) regulations, Bankers Almanac has improved its IBAN
Search with the addition of over 73,000 IBAN BICs. These are the Bank
Identifier Codes (BIC) issued alongside IBANs originating from each specific
clearing code and are provided for use when making SEPA compliant payments.

The IBAN Search is an integral part of Bankersalmanac.com’s payments
solution and supports the comprehensive settlement data currently provided.
Bankers Almanac continues to be the only supplier of Standard Settlements
Instructions (SSIs) to operate a 90-day verification and update cycle for
this data. It is also the only commercially available solution that provides
the SWIFT BIC attached to each SSI list allowing banks to identify the
correct counterpart instructions quickly and send messages accordingly.

To facilitate accurate messaging in payments, Bankers Almanac also holds
the connected SWIFT BIC equivalent for the unconnected BICs on its database
as well as the principal location for SWIFT BIC and clearing code.
Bankersalmanac.com’s strict editorial policy ensures that each bank confirms
these details before they are made available to users, helping to ensure
accuracy and create confidence in the quality of the data.

Commenting on the developments, Ben Cleaveley, Senior Product Manager for
Bankers Almanac said: “Helping clients to comply with SEPA remains a high
priority for Bankers Almanac. We are committed to providing accurate data
within a product that can form an integral part of their international
payments processing operations.”

Bankersalmanac.com will be demonstrating its enhanced payments offering
at Sibos 2009 in Hong Kong during the week 14-18 September. To make an
appointment for a demonstration visit
http://www.bankersalmanac.com/info/sibos2009.aspx

About Bankers Almanac

Bankers Almanac is the leading source of reference data for international
payments, bank compliance and bank risk assessment. For over 160 years it has
been a single point of reference for global banking information. Bankers
Almanac payments data helps improve the efficiency of transactions by
providing essential routing information such as SWIFT/BICs and national
clearing codes.

Our Due Diligence Repository contains primary data required by banks to
conduct compliance checks on their counterparties. Bankers Almanac partners
influential financial associations and evolves its reference data solutions
to meet the needs of the industry. With offices in Europe, Asia and USA,
Bankers Almanac is in continuous contact with banks and regulatory
authorities to provide up-to-date, verified data that can be consistently
relied upon.

    All press enquiries to:

    Jane Sutton
    Marketing Manager
    +44(0)1342-335932
    Email: marketing@bankersalmanac.com

SOURCE Bankers Almanac


Source: newswire



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