SWIFT Upgrades Reference Data Service

  • Banking
  • 19.04.2017 11:30 am

SWIFT announces the launch of a significant information architecture and visual redesign for its online reference data tool, Bankers World Online. As SWIFTRef’s flagship service, the latest version of Bankers World Online has been designed to heighten customers’ overall navigation and user experience. 

SWIFTRef, the global reference data utility is a highly-secure platform offering the financial industry a single and unique source for the reference data and financial information needed for seamless payments processing, accurate regulatory reporting, counterparty risk analysis and due diligence. The Bankers World Online service includes essential reference data, including all SWIFT BIC codes, national bank sort codes, IBAN (International Bank Account Number) identifiers, global Legal Entity Identifiers (LEI), and more that are used to facilitate international payments and fulfil new reporting requirements. It also includes important financial information from market data vendors and credit rating agencies, including credit ratings, shareholder information, balance sheet information, cash flows, and many more data sets about customers, suppliers and service providers.  

The new-look Bankers World Online has undergone an entire revamp of its user interface, with the addition of improved search fields and seamless navigation for the customer. It has been designed so that professionals can more quickly and easily source the reference data needed to populate domestic, SEPA and international payments correctly, validate identifiers used in regulatory reports and find information to evaluate current and potential counterparty risk. This major overhaul was the result of carefully thought-out cross divisional and customer research, and collaboration between IT, UX and Marketing experts. The redesigning process engaged clients, non-clients and expert teams from SWIFT to feed their input into the design process. 

Hervé Valentin, Head of SWIFTRef, says, “Bankers World Online has a key role to play in achieving our 2020 SWIFTRef growth ambition. Beyond providing key data, we want to offer a great customer experience which will support our clients’ businesses. The new release of Bankers World Online is an important step in achieving this objective. Through a careful design process involving many clients and insight from various SWIFT teams, we can better understand the industry challenges and respond by regularly building improvements into our tools.”

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