Payments begin to fail when payment rules, such as bank codes, change. In fact, details for some banks that suppliers hold accounts with may not even exist in your ERP system.
Corporates need to maintain correct banking details for all the banks they make payments to worldwide. This dynamic data needs to be built and maintained within the bank master table of your ERP system, such as SAP®, and Oracle®.
LexisNexis® Bankers Almanac Global Payments File ERP is the file-based solution that enables bank master data to be automatically updated. This ensures you stay on top of changing global payment requirements and can make more accurate payments without delays.
Update files can be delivered daily, ensuring clients stay ahead of global payment rule changes to avoid payment failures.
Customers that use SAP® benefit from a free load programme developed by LexisNexis Risk Solutions to automatically load fresh data daily, and automatically make updates to bank master tables.
Matches against lists from major sanctioning bodies are provided, including European Union, Office of Foreign Assets Control, Her Majesty’s Treasury, and United Nations. This helps clients protect against making payments to sanctioned banks.
Our global team of 140 data analysts work across 20 languages ensuring data accuracy by proactively collecting information directly from banks and other primary sources.
Bankers Almanac Global Payments File ERP enables clients to keep the following banking details correct and up to date within their bank master table:
Bankers Almanac Global Payments File ERP provides unmatched global coverage, spanning:
Upgrade solutions include:
Bankers Almanac Data Cleanse — Our payments professionals run a full analysis on legacy records in the bank master table to determine which records are no longer valid.
Bankers Almanac IBAN Payments File — Connects SWIFT/BICs to IBANs to increase payment efficiency.
Bankers Almanac Global Payments Local Language Supplement — Provides bank details in local, non-Latin characters to the 13 countries that have a language requirement.
For more information, download the Bankers Almanac Global Payments File ERP brochure.