Improving Straight Through Processing (STP) was a top priority for the business. Constantly changing data was becoming increasingly difficult to manage. Holding a vast number of global merchant accounts, the card issuer needed a tool which
could automatically analyse data and keep it up to date.
IBANs and BICs regularly failed because the banks referenced changed their data, address or merged with other organisations. Each failed payment can cost the provider £50 in charges, whilst it takes time to fix errors and it impacts customer trust. Validate simplifies complex payments processes and data management across all devices, improving efficiency, minimising delays and reducing charges from non-STP payments.
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Validate offers efficient tools to customer-facing staff, simplifying the global credit card payment environment and ensuring compliance with SEPA.
“Apply Financial helped us to stay SEPA-compliant and automate a process which was costing us money and time. We’re continually impressed by the accuracy and speed of the payment data, payment rules and regulation compliance which Apply provides to us through its Validate suite of solutions.” – Director at the global credit card provider
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