Simple and effective service to help meet the payments transparency and efficiency requirements of correspondent banks
Our independent reports on your messages support compliance with international requirements for originator and beneficiary data and help improve payments data quality for better straight-through processing.
Navigating FATF Recommendation 16Learn more
Learn about the implications of stricter requirements for wire transfers and the benefits of better payments data quality in this article from ACAMS Today magazine.
Supports compliance with requirements for originator and beneficiary data
International regulation requires banks to monitor originator and beneficiary data in payments messages. Payments Data Quality provides an agreed set of validation rules based on FATF 16 and covering EU FTR 2015, MAS 226 and the US “Travel Rule”.
Provides for better transaction screening and straight-through processing
The reports can help with proactive data quality improvement, resulting in more effective screening and AML monitoring – and fewer processing issues and repairs.
A hosted, independent service
We’ve worked with the industry to develop this centrally hosted service that mutualises costs, and requires no installation or integration on-site.
Rabobank uses Payments Data Quality for FATF16 compliance, increased efficiency
Data-driven solution supports greater transparency and higher straight-through-processing rates
Payments Data Quality service: BNP Paribas sets the pace
Reinforcing the payment chain to promote transparency