Bankers' Almanac Expands its ABA Code Coverage Setting the Global Standard in Banking Intelligence

LONDON, October 20, 2010 /PRNewswire/ -- Bankers' Almanac (http://www.bankersalmanac.com/) has expanded its American Banking Association (ABA) codes for branch networks in the US and its territories, further enhancing the global payment data ( http://www.bankersalmanac.com/addcon/products/payments.aspx) coverage that it provides to the industry and continuing to set the global standard in banking intelligence. (http://www.bankersalmanac.com/)

The expansion of the ABA codes ( http://www.bankersalmanac.com/addcon/products/payments.aspx) and the branch network coverage (sourced directly from the Federal Reserve), along with the New York Clearing House CHIPS codes, provides clients of Bankers' Almanac with comprehensive coverage not only of the US clearing networks but also of global code and branch networks.

An ever increasing use of electronic payments and a decreasing use of cheques within the US market has lead to increased payment volumes and a need for improved processing efficiency. "With Bankers' Almanac providing expanded coverage of ABA codes, this means users can verify and validate routing transit numbers (RTN) accurately and effectively for transfers over both the domestic Fedwire, FedACH networks and internationally via SWIFT, assisting organisations in reducing their payment ( http://www.bankersalmanac.com/addcon/products/payments.aspx) processing time and operational costs," Martin Eves, Payments Product Manager commented.

Martin Eves furthermore added, "Expansion of our ABA codes (http://www.bankersalmanac.com/addcon/products/payments.aspx) provides our customers with access to comprehensive global code coverage. These constant developments are used by our clients to enhance their straight through processing (STP) (http://www.bankersalmanac.com/addcon/products/payments.aspx ) rates and reduce costs via access to either Bankersalmanac.com (http://www.bankersalmanac.com/addcon/products/payments.aspx) or with the data integrated into their banking systems via Bankers' Almanac Data Solutions." (http://www.bankersalmanac.com/addcon/products/bank-data.aspx)

Martin Eves and the team are showcasing Bankers' Almanac at SIBOS in Amsterdam on stand A753, visit http://www.bankersalmanac.com/addcon/events/sibos-2010.aspx to book an appointment and to learn more about our data solutions.

About Bankers' Almanac

Operating since 1845, Bankers' Almanac continues to set the global standard for banking intelligence, providing payments, ( http://www.bankersalmanac.com/addcon/products/payments.aspx) due diligence (http://www.bankersalmanac.com/addcon/products/due-diligence.aspx) and risk assessment (http://www.bankersalmanac.com/addcon/products/credit-risk.aspx) reference data for financial and banking institutions worldwide. With offices in Europe, Asia and the USA, Bankers' Almanac is in continuous contact with banks and regulatory authorities to provide up-to-date, verified data that can be consistently relied upon.

For more information about Bankers' Almanac and the products that it offers visit http://www.bankersalmanac.com.

    Source:

    Bankers' Almanac, United Kingdom, London
    http://www.bankersalmanac.com

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