SingaporeCBA, a global provider of banking IT solutions and services, is delighted to announce that it has signed an agreement as a SWIFTRef Enabled Solution Provider, part of the SWIFTRef Parnter Programme.

SWIFTRef is SWIFT’s new global payments reference data utility.  It offers a single source for the reference data required for faultless payments processing and accurate regulatory reporting.  The service includes the identification and validation of BICs (Business Identification Codes), National bank identifiers or Standing Settlement Instructions (SSIs), IBANs, SEPA routing information, and other reference data required by financial institutions on a daily basis.

As part of the SWIFTRef Partner Agreement, SWIFT has certified that CBA has enabled integration of the SWIFTRef data service within its IBAS GPF – Global Payments Factory.   IBAS GPF customers can now benefit from SWIFT's accurate and comprehensive reference data, help ensure high STP rates, and prevent potentially expensive repairs.

"The integration of SWIFTRef into our IBAS GPF – Global Payments Factory and other IBAS GBFGlobal Banking Factory products will help customers achieve higher payments processing efficiency and significant cost reductions."  said Rolf Hauge, CEO at CBA.   "With margins under pressure, competition high and regulatory demands ongoing, quality payments data is of paramount importance.  By harnessing CBA’s modern payments systems and solutions, customers are eliminating unnecessary expenditure, whilst increasing volumes and achieving more accurate regulatory reporting."

IBAS GBF Global Banking Factory covers a wide range of banking areas, including payments, trade finance, financing and loans, forex & MM, invoicing, factoring, and account management.  The modular nature of IBAS GBF means that it can range from a total banking system to a specialist system for a niche product area.

- Ends -

For further information about the IBAS GBF suite of product solutions, please contact your CBA representative.