As a payments department operator, you check and validate BICs and sort codes in transaction exceptions in order to process those exceptions. In the front office, you check IBANs and the routing of IBANs provided by customers before sending them for processing. In the Foreign Department, you need to know the SSI of the bank of the beneficiary in order to make a payment.
Whether you are a financial institution or a corporate using SWIFT or other channels, Bankers World Online REACH allows you to:
- Identify correctly your payments correspondents in both cross-border and domestic markets
- Validate your payments correspondents SSIs, Account and IBAN structure
- Verify your payments correspondents membership to local Clearing and Settlement systems
What are the benefits of using Bankers World Online REACH?
- Easy access through our secure online platform
- Single source for look-ups on global, accurate and always up-to-date payment information
- Direct link to SWIFT KYC Registry and Bankers World Online ENTITY (add links)
What can you find in Bankers World Online REACH?
- All SWIFT BIC codes and associated LEIs
- National clearing/sort codes
- Clearing/Settlement Mechanisms and SWIFTnet services membership
- Operational name and address
- BIC historical events (activation, modification, expiration) since November 2007
- SEPA/IBAN data
- SWIFT connectivity information (FIN, InterAct, FileAct)
- Bank SSIs
- Time-zone information
- Country, currency codes and bank holidays
- BIC Operational hierarchy information
- SWIFT Broadcast messages (MT094) content