Worldwide standing settlement instructions for both retail and wholesale payments
As a financial institution or global corporate you may need to process thousands of cross-border retail and/or FX and money market-related wholesale payments each day.
Access to accurate and up-to-date Standing Settlement Instructions (SSI) is critical. It will ensure a fast and accurate cross-border payments process, help reduce settlement risk and improve your straight-through processing (STP) rates.
With SSI Plus you’ll have everything you need to address your SSI needs for both retail and wholesale payments.
What issues can you resolve with this directory?
- Identify beneficiary bank and name
- Identify a beneficiary bank’s correspondents for various currencies where available
- Identify the correspondent per asset category
- Identify a beneficiary’s account number with the correspondent
- Identify holding account institutions if the beneficiary institution has no direct correspondent relationship
- Present preference, if expressed by the owner of the SSI, where more than one SSI per currency is present
What can you find in this directory?
SSI Plus directory includes the SSI Retail and SSI Wholesale directories.
- Beneficiary’s name and BIC code
- Beneficiary’s correspondent BIC code per category and currency.
- Intermediary’s BIC code in case of holding account owner and preference if multiple available