EBA Clearing and SWIFT launch EURO1/STEP1 directory

Resource to highlight wider choice of payment systems

Published on 19 September 2008
Left to right: Dusan Pobuda, Senior Product Manager, Information, SWIFT. Paolo Bernini, Head of Information Products, SWIFT. Alan Taylor, Director Euro1/Step1 Services, EBA Clearing. Jette Simson, Manager Euro1 Services, EBA Clearing
 
EBA Clearing, in partnership with SWIFT, has developed a new directory for the private sector that lists all of the financial institutions that can be reached through the EURO1 or STEP1 payment systems in the Eurozone. The directory lists the EURO1 and STEP1 member Bank Identifier Codes (BIC) and the special markers of their customers and counterparties enabling more traffic to be put through for previously unknown beneficiaries.

“We chose to work with SWIFT on this project because they have the expertise in directory services and delivered quickly,” says Alan Taylor, director EURO1/STEP1 services at EBA Clearing. “The new directory maximises liquidity benefits, reduces transaction prices for EURO1/STEP1 systems and levels the playing field with TARGET2 – currently the default – which gives users more choice.”