SWIFT Module 7.1 SP10.July 2020 | Configuring SWIFT Module for Message Exchange over SAA | Importing Bank Directory Plus and SEPA Plus | Business Examples Using BankDirectoryPlus and IBANPlus
Business Examples Using BankDirectoryPlus and IBANPlus
The following table provides examples of business scenarios in which you would use SWIFT Module to derive or validate data against the BankDirectoryPlus/IBANPlus:
Use the...
Search for the bank details of a financial institution (for example name and address) to create or validate international payments.
Search BIC Information function of the SWIFT Module user interface as described in Searching BIC Information.
Validate the national code (National ID) of a bank and the clearing system used in an international payment.
Translate IBAN into BIC, if the BIC is missing, for SEPA payments or other cross-border payments.
Construct IBAN from an account number.
Validate if the BIC of a financial institution is valid when you want to order payment to that institution.
Validate that the BIC and the IBAN in SEPA payments belong to the same financial institution.
For information about the business logic behind these services, see your SWIFT documentation or the SWIFT website.