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Uniserv: Plausibility check for new bank data formats

Uniserv, headquartered in Pforzheim, offers a plausibility check for bank data with bank.International. The practice-oriented solution processes conventional data such as bank code and account number as well as the formats of the Single Euro Payments Area (SEPA), which will become mandatory as of February 2014.
E-3 Magazine
April 1, 2013
2013
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This text has been automatically translated from German to English.

In February 2014, the IBAN, the International Bank Account Number, will replace the bank code and account number and ensure uniform data formats throughout Europe. Despite the urgency of the changeover to SEPA, many companies unfortunately fail to recognize the need for action.

The current study by ibi research, "SEPA Implementation in Germany", also shows that one third of the organizations surveyed are not yet really aware of SEPA.

And only another third of companies already use SEPA credit transfers at all - sporadically. The changeover to the European payment area not only brings changes for finance departments, but affects almost every department.

With bank.International, the user can conveniently and reliably verify the customer's bank details. The software checks whether the IBAN is syntactically correct, fulfills all requirements for the structure of an IBAN and can be clearly assigned to a bank.

The plausibility of the IBAN is checked by assigning an international bank sort code (BIC) or checking the IBAN and BIC against each other.

"The smart thing about bank.International is that the solution can be seamlessly integrated into the relevant applications, is highly flexible in covering different deployment scenarios using cloud technologies and, last but not least, minimizes the risks for companies"

Michael Luderer, Managing Director of Severn Consultancy, describes the benefits from a consultant's perspective.

bank.International uses the reference data from SWIFT, the Society for Worldwide Interbank Financial Telecommunication, to ensure the highest quality of results. Incorrect bank details and credit card numbers are recognized as soon as the data is entered and typing errors are reliably corrected. This minimizes the risk of a failed transaction.

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