Bank account data ages over time and the data you hold may need checking to ensure that you can still collect and make payments. The implementation of the Single Euro Payments Area (SEPA) means that the payments data you hold may not be in the right International Bank Account Number (IBAN) format, and you may not have the Bank Identifier Code (BIC) necessary to ensure that your payments are successful.
The Experian Data Conversion Service works for global payments data, checking validity, and where required converting it to IBAN. Our data conversion service gives you confidence that your payments won’t fail due to the impact of changes on bank account data format and content.
Experian’s IBAN converter service is ideal for any organisation worried that the delivery or collection of payments may be compromised by poor quality bank account data. Organisations looking to convert the data they hold from national formats to IBAN for initiatives such as SEPA will also find the data conversion service a vital tool.
Experian’s dedicated data conversion team will use their expertise to manage and enrich your data. Your data is then validated using software which applies modulus checking, the algorithmic rules which determine the format and content of a bank account number. Once the account number is validated our software will convert it to IBAN and provide the additional information you need such as BIC.