Replacing SwiftRef Reach plus
Comprehensive payments routing information
In order to increase straight-through processing – and improve end customer satisfaction – it's important to understand how you can route your payments to a beneficiary bank as efficiently as possible.
As each market infrastructure comes with their own membership list and setup including specific identifiers, routing data, format and structure, it can be challenging to standardize it across all sources.
With Participants Directory, we provide you with the uniform, standardized view of financial institutions’ membership to clearing systems and routing details, ensuring the fastest route to your payment’s end destination.
What is the Participants Directory?
Participants Directory provides you with the necessary membership to clearing systems and routing details for your beneficiary banks, ensuring the fastest route to your payment’s end destination.
What can Participants Directory help you with
- Identify your payment beneficiary’s membership to clearing systems and routing details throughout the world
- Decrease costs associated with maintaining data from multiple sources – Participants Directory provides you with a single file format from a single source, easily embedded into your payments environment
What can you find in this directory
- Participation of financial institutions in various Clearing and Settlement Mechanisms (CSMs), such as China’s Cross-Border Interbank Payment System (CIPS), UK BACS, US FEDACH, Fedwire, HK Interbank Clearing etc
- Identification of direct and indirect membership to CSMs, including to Market Infrastructures run over Swift
- Routing details for reaching a financial institution via a specific CSM
- Consistent view of data elements and attributes across all CSMs
- Participation and identification details for all financial institution members of many-to-many SwiftNet services such as SwiftNet FileAct and SwiftNet Funds
