SwiftRef Payments Directory
SwiftRef Payments Directory
The Payments Directory is SwiftRef's most comprehensive offering. Populate and validate bank identifiers and their details in domestic and international payments by importing data into your applications, CRM and ERP systems, or building your own database tables.
Benefits
The Payments Directory is global in scope, containing all Swift BIC codes, national bank ID codes, LEIs, CHIPS, TARGET, EBA data, SEPA data, IBAN data, bank holidays and country-specific information such as account number formats.
Use routing information such as SSIs, Swift FIN and SwiftNet service codes, and payment market infrastructure participation to standardise your payment flows and reduce the costs imposed by payment repair, investigation and heightened operational risk.
Make payments either on the Swift network or outside, while benefiting from using next-generation products, richer data and ISO 20022 compliance with evolving standards.
Use cases
- A bank needs to look up the FINplus DN, populate the bank address details in ISO format and validate FIN/FINplus connectivity before sending a FINplus payment.
- A sending bank considers switching the routing from an ACH to an RTGS for improved speed and cost.
- A bank must find a connected intermediary BIC to deliver a cross-border payment through FINplus to a beneficiary bank whose BIC is not connected to FIN or FINplus.
- A corporate must find an appropriate PPC code to send a cross-border payment to a country where it is mandated.
- A bank sends an international payment to a beneficiary bank, whose SSIs list more than one possible correspondent in the relevant currency, and needs to confirm the participating correspondent in the destination country RTGS for the most direct route to the beneficiary.
- A bank receives an international payment instruction from a corporate customer, in a given currency. It must search how the beneficiary bank can be paid in that currency.
- Two banks enter into an FX transaction, buying one currency in exchange for another. To send a transaction confirmation, they must reference the FX-related SSIs for the currency their counterparty is buying, which must be valid on the value date of the transaction.
Learn more about Payments Directory
Talk to one of our Account Managers