TransferMate, a market-leading provider of international payment solutions has embarked on a project with Accuity in preparation for significant global expansion. TransferMate, having secured global regulatory approval and built a technological platform that allows businesses to send and receive payments through a single portal, has selected an Accuity solution to add further immediate validation of its transactions to reduce errors and improve accuracy. This will save TransferMate time, drive efficiency, and help to safeguard its reputation. The project supports the company’s vision to accelerate the speed of transactions and optimise the overall experience for its customers across the USA, Canada, Europe, Australia and New Zealand.
Neil Tagg, Director – Business Solutions Group at Accuity said: “TransferMate enables businesses worldwide to send and receive foreign currency payments and it is crucial that their processes are fast, accurate and reliable. The integration of Accuity global payment data within TransferMate’s core payment systems removes the need for manual intervention and enables the business to scale seamlessly as its customer base expands at a rapid pace across all key markets”.
Sinead Fitzmaurice, Co-founder of TransferMate said: “As the leading innovator in the competitive Fintech space, TransferMate stays ahead of the market by continuously looking for new ways to streamline and improve. This ethos results in our 35,000 customers receiving the fastest service available, as well as allowing our business to adapt and grow as demand increases and customer needs change. By collaborating with Accuity, we have achieved significant efficiency savings and the benefits are passed on to our customers.”
TransferMate is using the Bankers Almanac Global Payment File Plus and Bankers Almanac IBAN Complete from Accuity within its treasury portal, used by clients to send and receive cross-border payments. These solutions automatically validate payments information as it enters this portal. This enables TransferMate to reduce the time spent manually inputting and validating payment data, and investigating and repairing delayed or failed payments.
Notes to Editors
About TransferMate Global Payments
TransferMate boasts one of the world’s largest currency settlement networks that provides companies of all sizes and financial institutions with a payments solution to conduct cross-border transfers globally – at high speed and a low cost. TransferMate connects businesses across the world with a smart and efficient solution when sending and receiving international payments, while continually differentiating ourselves from other players in the market. Our industry awards and recognition from recognised brands such as Deloitte, Ernst & Young and The London Institute of Banking & Finance verify that Transfermate provides the most innovative and advanced technology solutions on the market.
For more information on the TransferMate global payments service, visit: www.transfermate.com
Accuity offers a suite of innovative solutions for payments and compliance professionals, from comprehensive data and software that manage risk and compliance, to flexible tools that optimise payments pathways. With deep expertise and industry-leading data-enabled solutions from the Fircosoft, Bankers Almanac and NRS brands, our portfolio delivers protection for individual and organisational reputations.
Part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries, Accuity has been delivering solutions to banks and businesses worldwide for 180 years.
About Bankers Almanac Global Payment File Plus
Bankers Almanac Global Payments File Plus provides regular updates of the financial institution data and routing information needed to accurately process cross-border payments anywhere in the world. This flexible data file allows organisations to embed payments validation checks and enrichment across each step of payments processing, enabling automation of client data verification during on-boarding and improved routing decisions through more effective back-office processes. Not only does this save time on manual payments processes, it also provides greater confidence that payments will go through the first time and every time.
About Bankers Almanac IBAN Complete
Bankers Almanac IBAN Complete verifies client-provided IBAN data with ease and reduces the time and money spent on errors and repairs. It offers easy access to the matching payments and BIC information when clients provide only an IBAN. This tool utilises a multiple-check validation process on the various IBAN elements, providing greater confidence that IBAN payments will be processed as expected. Offered in a range of delivery options, IBAN Complete enables SEPA and IBAN compliant payments.