Accuity, a SourceMedia Company and leading provider of data, software, and services that allow organizations, across multiple industries, to efficiently and soundly manage transactions, today introduced an immediate expansion of the company's most prominent international payment processing solution – Global Payment File – Plus by Accuity (GPF-Plus).
The Routing Attributes Table enables users to clearly define international bank routing codes found in the seven pre-existing tables of GPF-Plus, various real-time gross settlement systems, and other bulk settlement payment systems including CHAPS and the participating clearinghouses of TARGET (Trans-European Automated Real-Time Gross Settlement Express Transfer system).
GPF-Plus users will be able to efficiently link internationally recognized bank routing codes such as CHIPS (Clearing House Interbank Payments System), and SWIFT/BICs (Bank Identifier Codes), as well as various national routing codes, with banks' selected messaging systems for faster payment processing and fewer errors. The new table will allow payment originators to choose which messaging system will provide the fastest or most cost-effective transfers depending upon the requirements of individual transactions.
"The need to streamline international payment processing is critical in today's financial industry," said Brian Leibforth, GPF-Plus product manager.
"Several of our customers have already used the new table and have had nothing but acclaim for it. With the new Routing Attributes Table, our customers can improve their accuracy and operational costs by reducing the amount of research time needed for international payments. Ultimately, the new table is a value-added component that brings unique depth to the product," Leibforth commented.
Launched in 2000, GPF-Plus offers users access to complete information on financial institutions from over 200 countries including mailing addresses, department-specific contact information, SWIFT/BICs, CHIPS, UIDs and national clearing codes. In addition, the product lists correspondents by currency and officer information, as well as standard settlement instructions for specific financial institutions. And all of the information contained within GPF-Plus is obtained directly from official sources including financial institutions and the appropriate issuing authority for each national clearing code.