SWIFTRef at a glance
As a financial institution or corporate, you handle numerous commercial and/or treasury payments each day. Regulations such as SEPA and MiFID increasingly require you to produce payments more efficiently, while generating accurate and timely regulatory reports.
Inaccurate or delayed payments or reports may result in financial loss, dissatisfied customers or suppliers, correspondent fees and penalties from regulators. Access to accurate reference data is therefore paramount.
However, collecting and maintaining reference data on an individual basis can be challenging. As well as collecting data from multiple sources, you also need to clean, validate, cross-reference and maintain the data.
By taking advantage of SWIFTRef, you can rely on SWIFT to do this for you. With our established role and relationships within the industry, and as the ISO registration authority for BIC and IBAN format, we are uniquely placed to deliver accurate and comprehensive data.
What we offer
With SWIFTRef, you’ll benefit from access to:
- A single source instead of multiple sources
- Worldwide data covering all geographies and extensive national payment systems
- High quality data, sourced from and maintained by the official originators
- Frequently updated data
- A broad choice of delivery channels
- Around-the-clock product and investigation support
Sourcing and maintaining data
To guarantee the quality of our reference data, SWIFTRef sources data directly from authorised data originators. Authorised data originators include:
- Central banks
- Code issuers
- Clearing & Settlement Mechanisms (CSMs)
- National authorities
- Regional financial communities
We also provide free standard data maintenance tools which make it easy for issuers and originators to maintain their data regularly and thoroughly. These include Publishing Area Keys (PAKs) or, for regional communities, a Code Management System (COMSYS). In addition, a dedicated SWIFTRef data team continually validates and cross-checks data across the different data sets.