22 March 2013

Learn about SWIFTRef's online directories offering

To enhance straight-through-processing of international and SEPA payments, to reduce processing costs and to speed up payment repairs and investigations, it is critical for financial institutions to have hands- on and any-time access to worldwide, accurate and up-to-date reference data

SWIFTRef’s online directories portfolio responds to this challenge.

By providing you with a rich selection of web query tools, it allows any financial institution – connected or not to SWIFT - to instantly identify a BIC, the history of a BIC, the exact IBAN corresponding to a BBAN, a national clearing/sort code, standing settlement instructions, the most efficient SEPA payments routing path, a counterparty’s SEPA-readiness, latest broadcast by a correspondent or any other worldwide payments reference data.

SWIFTRef’s principal online query tools are:

  • Bankers World Online
    This directory provides any-time access to the daily updated and complete SWIFTRef database through a powerful web-based search capability
  • BIC Archive online
    This directory provides the most up-to-date history of all BICs. It’s specifically developed to respond to the regulatory reporting challenges encountered by investment firms regulated under MiFID but its usage has proven to be of interest also to any other financial institution.
  • MT094 Online
    This new broadcast service offers fast and daily access to any broadcasts (from SWIFT and correspondents), as well as a powerful research tool allowing you to trace back broadcasts from as early as January 2009.

An interesting feature of  the online directories is that pricing and access to the SWIFTRef online tools is based on the concept of “concurrent users”. Every concurrent user can access the tool with his own username and password, at the same time as another concurrent user. If your organisation operates in shifts, this signifies that with a single concurrent user licence, multiple users can actually access the service with the same user-details as long as they do not do this at the same time.

Early-adopter customers are excited about the extent and benefits of the online portfolio.

Raiffeisen Bank International, who has been using SWIFT’s bank and IBAN directory files for several years now, was pleased to discover the new online portfolio: “SWIFTRef’s Bankers World Online is a true state-of-the-art application providing us with absolutely all the information we need about our correspondents right at our finger tips“ shared Walfried  Lemerz, Head of Payment Services, Raiffeisen Bank International. “And the same goes for the new MT094 Online Broadcast service, which is a very important source of information for the bank allowing us to now keep master data in our applications updated daily.”

Bernhard Fritz, SWIFT administration officer at Volksbank shares a similar experience “Bankers World online is a much appreciated instrument in our company. Besides its additional richness such as information on group affiliations and SSIs, its concurrent user approach is very user-friendly, allowing us to give more people in the organisation access to the tools so that research efforts can easily be distributed”. Also with regards to the BIC Archive Online, Bernhard sees clear value-add “With the many mergers currently happening, it’s important to be able to track the latest BIC-changes and execute our payment orders with the latest valid BIC. BIC Archive Online provides exactly this clarity”

SWIFTRef’s Bankers World Online is a true state-of-the-art application providing us with absolutely all the information we need about our correspondents right at our finger tips!

— Walfried Lemerz, Head of Payment Services, Raiffeisen Bank International

If you’d like to learn about our SWIFTRef online directories yourself, then register today for one of our upcoming 30-minute free webinars (including demo) on following dates:

  • Tuesday, 26th March 
    17:30 CET – 16:30 GMT – 12:30 EST – 9:30 PST – Register now
  • Wednesday, 27th March 
    15:00 CET – 14:00 GMT – 10:00 EST – 07:00 PST – Register now
  • Tuesday, 9th April 
    09:30 CET –  08:30 GMT – 13:00 IST – 15:30 SGT – Register now
  • Wednesday, 10th April 
    15:00 CET – 14:00 GMT – 09:00 EST – 06:00 PST – Register now
  • Thursday, 11th April 
    17:30 CET – 16:30 GMT – 11:30 EST – 8:30 PST – Register now

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