As a financial institution, you handle multiple to thousands of commercial and/or treasury payments per day.  At the same time you are more and more challenged by a growing number of industry regulations such as SEPA, MiFID, etc., which force you to produce payments always more efficient and generate accurate and timely regulatory reports in addition. 

Inaccurate or delayed payments/reports may result in financial loss, unsatisfied customers/ suppliers, correspondent fees and penalties from regulators.

Having access to extensive and accurate reference data is therefore paramount.  To address this issue SWIFT has created SWIFTRef products. SWIFTRef offers you a single source for all the reference data you need for a flawless payments process and accurate regulatory reports. The SWIFTRef portfolio shares a modular approach, allowing you to identify the best solution for your organization. The following modules are available: Bank reference data, SEPA Reference Data, Standing Settlement Instructions, Reference data for corporates, Special data, and Full payments data. Within the module you could select a SWIFTRef product suitable for your needs. Below we gather information on the most common modules to be used.

In Bank reference data module you may find the following information:

  • all BIC codes from the ISO-registry (200+ countries), from connected and non-connected financial institutions and corporates, including name and address information and the institution's participation in national and international payment services reachable through FIN and SWIFT user category;
  • BIC status on FIN, InterAct and FileAct;
  • BIC-related events (suspension, (de)activation, name change, etc.);
  • ISO country and currency codes;
  • Bank holiday information;
  • Time zones;
  • National clearing codes (160+ countries), including CHIPS, TARGET and EBA data;
  • Bank hierarchy information;
  • Payment system routing data.

SEPA Reference Data module provides the following information:

  • detailed structure of any IBAN;
  • IBAN the related BIC;
  • SEPA scheme adherence;
  • ACH membership;
  • Reachability and SEPA-scheme (SCT or SDD) readiness.

Standing Settlement Instructions module helps to find:

  • Standing Settlement Instructions for retail/commercial payments ie. All correspondent bank BICs of a bank, per currency, with account details;
  • Standing Settlement Instructions for wholesale payments 
ie. All correspondent bank BICs of a bank, per currency and per FX/MM product, with account details.

Detailed information on each module/product is provided via the link. SWIFTRef directories are available online, via APIs or .txt and .xml files with daily or monthly updates. Free trials are accessible upon request.

With SWIFTRef, you’ll benefit from access to:

  • one single source, instead of multiple
  • worldwide data, covering all geographies and extensive national payment systems
  • high quality data, sourced  from and maintained by the official originators only (banks, central banks, Code issuers, Regulators, National authorities, Regional communities)
  • frequently updated data
  • a broad choice of delivery channels
  • around-the-clock product and investigation support

News

01 June, 2017

Customer Review