More NewsAccuity Releases Payments Solution for IBAN and SEPA Compliance

Accuity Releases Payments Solution for IBAN and SEPA Compliance

Accuity has released IBAN Complete, a solution for IBAN and single euro payments area (SEPA) designed to facilitate SEPA-compliant payments.

“As banks and their corporate customers continue to prepare for SEPA, we’ve identified a significant need for a comprehensive solution for IBAN conversion and validation,” said Hugh Jones, president and chief executive officer (CEO) of Accuity. “We believe that this need will only continue to grow as SEPA progresses.”

IBAN Complete converts national bank account details to IBANs, validates IBANs using multi-layered proprietary processes, and supplies valid routing BICs for all IBAN-compliant countries.

IBAN Complete provides four delivery options:

  1. A secure internet-based tool that validates and converts IBANs in both single look-ups and batches, improving payment straight-through processing (STP) rates.
  2. A remote Web service connecting the client’s existing user interface with Accuity’s IBAN data and tools, delivering IBAN validation and conversion functionality to in-house payment applications.
  3. An embedded deployment option that enhances a client’s internal applications with IBAN conversion and validation capabilities. These are hosted behind the company’s firewall.
  4. An outsourced service that repairs payment files and converts legacy account information, returning a refreshed file that can be used immediately along with a detailed report, further improve payment efficiency.

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