Swift to Launch New Reference Directories for SEPA

BRUSSELS-Swift is set to introduce two new directories aimed at helping users automate data processing in the Single European Payments Area (SEPA). The directories, to be launched in December, are the BICPlusIBAN Directory and the SEPA Routing Directory.

Geoffroy de Schrevel, head of banking and trade initiatives, EMEA, Swift, says: "In the SEPA protocol, you need to put the International Bank Account Number (IBAN) and the Bank Identification Code (BIC) for each payment you want to inject int

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