The new data, fed directly from CB.Netâs BankSearchPlus, consists of over 90,000 categorised SSIs for 8,500 BICs, national clearing codes for more than 80 countries and IBAN2BIC, a service that links an IBAN to the issuing bank. The contents of BankSearchPlus is continuously updated using authoritative sources and maintained by banks themselves routed via the existing payment platforms to the end user.
Concise will be delivering this datafeed through its suite of payment products. CorpPay already enables corporate or institutional customers of a financial services supplier to submit payment files for settlement. Concise PayAssure is a generic mid-tier payment processing platform that promotes component re-use and includes payment validation, reference data validation, payment routing, payment enrichment.
"CB.Netâs reference data will be integrated into both CorpPay and PayAssure, to allow corporates to prepare payment files with STP and banks to validate, correct and enrich payment messages" said Kevin MacEntee-Creighton of Concise, "We are delighted to be offering this to our clients".
"We are pleased to announce that yet another major software provider is using our data to enrich its products. Through Concise we are now reaching corporates as well as banks to provide accurate and intelligent data directly" said Ian Dunning, managing director at CB.Net Ltd.