Accuity Becomes First Authorized Re-distributor of SWIFT’s Bank Identification Codes
SKOKIE, IL – January 14, 2008 – Accuity, a leading provider of payment routing data, AML screening software and services today announced an agreement to become the first authorized re-distributor of Bank Identification Codes (BICs) under SWIFT’s new data licensing scheme. In addition to collecting these codes directly from banks worldwide, Accuity will now receive a direct feed from SWIFT, the assigning authority for BICs.
“We are very pleased to announce this agreement with SWIFT,” said Robert McKay, managing director of business development for Accuity. “The integration of SWIFT’s BIC information with our payment reference data products will provide our customers a cost-effective, comprehensive and easy to use solution for global payments. Accuity delivers data solutions that are accurate and have the highest quality. These solutions significantly reduce transaction error rates, meaning fewer bank charges and faster completion of funds transfers and ensure the highest levels of payment STP rates.”
Accuity augmented its own collection efforts with this SWIFT agreement considering the pace of changes created in the market due to expanding global supply chains and initiatives like the Single Euro Payments Area (SEPA). Accuity receives the data feed directly from SWIFT and utilizes it in Accuity’s globally oriented payment reference data products, including Global Payment File™ (GPF) and The Global Banking Resource™ (TGBR), as well as SEPA products such as the IBAN File and IBAN Payment Resource.
About Accuity
Accuity, 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 150 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.
