Software facilitates IBAN payment processing.
Press Release Summary:
Allowing users to load IBAN file into their ERP systems, IBAN Connect uses data in file to initially filter beneficiary records. When payment requiring an IBAN is initiated, product re-confirms payment information and provides method for investigating, verifiying, and correcting any changes.
Original Press Release:
Accuity Introduces IBAN Connect
SKOKIE, IL - November 10, 2006 - Accuity is pleased to introduce IBAN
Connect, a complementary application to the firm's IBAN File, which
enables corporate institutions to repair and validate IBAN payment
information within an ERP system and minimize the amount of manual labor
required to achieve higher STP rates.
IBAN Connect, a product that is unique in the marketplace, allows clients
to load Accuity's IBAN File into their ERP systems and use the data for a
variety of functions. Using the data contained in the file, IBAN Connect
automatically scrubs beneficiary payment information to ensure that
records requiring an IBAN have one present. IBAN Connect also verifies
that IBAN strings have a valid length, Bank/Branch code and check digit
for the provided BBAN. Finally, IBAN Connect ensures that the SWIFT/BIC
provided for the beneficiary is the correct SWIFT-connected BIC
needed for IBAN payment processing.
Once an initial filter of beneficiary records has taken place, customers
can continue to use IBAN Connect to validate active payment instructions.
Each time a payment is initiated requiring an IBAN, IBAN Connect will
re-confirm the payment information. If there has been a change in the
payment information, IBAN Connect will provide users with a method for
investigating, verifying and correcting any changed payment information.
"Accuity recognizes that ERP systems are central to our corporate
customers' business processes," said David Leverenz, director of product
management and development for Accuity. "Developing products that can
improve STP rates such as IBAN Connect and our recently-launched Global
Payment File(TM) for ERP will continue to be a major focus for us."
About Accuity
Accuity (formerly Thomson Financial Publishing), a SourceMedia company, is a
leading provider of data, software and services that allow organizations,
across multiple industries, to maximize efficiency and facilitate
compliance of their transactions.
As the official registrar of ABA routing numbers since 1911, Accuity
maintains the most authoritative and comprehensive databases globally with
a reputation built on the accuracy and quality of our data, products and
services.
For more than 95 years our worldwide clients, located in over 150
countries, include C-level executives, managers, and technology
professionals. The solutions and services we provide are packaged in
multiple formats to serve their diverse needs.
About SourceMedia, Inc.
SourceMedia provides market information, including news, analysis, and
insight to the financial services and related industries such as
accounting and technology, through its publications, industry-standard
data applications, seminars and conferences. Its flagship publications,
including American Banker, National Mortgage News, The Bond Buyer, and
Accounting Today, have helped build SourceMedia's reputation as the
pre-eminent information source in its respective markets. Consulting
services, software, and data provided through its two divisions, National
Regulatory Services (NRS) and Accuity, facilitate regulatory compliance,
funds registration and data flow among institutions in the investment,
insurance, and banking industries.
The news, information, integrated data, consulting services, and marketing
solutions SourceMedia delivers is packaged in any format customers prefer
and need - in person, in print, or online, including newspapers and
magazines, reference directories, database products, software, Web
seminars and live events.
SourceMedia's 750,000 worldwide clients and subscribers range from C-level
executives to business-unit heads to line managers - from the front office
to the middle office to the back office. SourceMedia employs more than
1,000 employees worldwide, with headquarters in New York and offices in
Chicago, Washington, DC, and London.
News Release Contact:
Stacy Kirincic
Accuity
+1 847 933 5066
stacy.kirincic@AccuitySolutions.com
Corporate Contact:
Anne O'Brien
SourceMedia
+1 212 803 8280
anne.obrien@sourcemedia.com
