CB.Net and Logica CMG launch SEPA Directory
CB.Net announces the launch of the SEPA Directory in partnership with LogicaCMG. The directory offers payments data for organisations seeking to meet the requirements of the SEPA. It provides financial institutions’ payments data, including Bank Identifier Codes (BICs) and National Codes throughout the SEPA region, and an International Bank Account Number (IBAN) to BIC validation and link tool. The SEPA Directory will allow financial institutions and corporates to validate payment coordinates for banks in the Single Euro Payments Area and ensure transactions are correctly routed. The Directory will be powered by CB.Net’s comprehensive and continuously updated payments data, providing financial institutions and enterprises with the information they need to ensure payments meet the requirements of the EU Directive on Euro payments, which come into force on 1 January 2008. The payments data will also enable organisations to improve payments efficiency and reduce transaction costs.