Reference data provider CB.Net has signed an agreement with ACE Software Solutions (ACE) to deliver its critical payment data via ACE's straight through processing solution – STP Toolkit.
Using ACE's STP Toolkit this new joint alliance will be enhancing the STP rate dramatically for existing and new clients by providing a reliable and constant stream of consistent and robust reference data.
Al Danino, Commercial Director at ACE said, "It is an accepted fact that probably the last barrier to STP is the availability of clean and up to date reference data. CB.Net is a natural partnership opportunity for us as an STP software solution provider. The combination of our software and CB.Net data means that financial institutions can further realise cost savings and processing efficiencies and in so doing increase their levels of STP."
Ian Dunning, Managing Director at CB.Net, said, "This joint sales program marks an important turn in how CB.Net approaches the market. In working with an established software solution provider like ACE, we believe that our already successful BankSearchPlus can and will be used to greater effect in improving the STP rates for our clients."
CB.Net's flagship product, BankSearchPlus, is the definitive international payments directory, delivering critical operational data in one source direct to the back office. BankSearchPlus contains over 77,000 Standard Settlement Instructions (SSIs) linked to 8,500 BICs and national bank sort codes for over 60 countries. Other BankSearchPlus components include IBANSearch which validates and links IBANs to the issuing banks; and BIChistory.