Accuity Acquires Cb.net

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4th February 2009, 10:13pm - Views: 783





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Accuity Acquires CB.Net


LONDON, Feb. 4 /PRNewswire-AsiaNet/ --


    - Acquisition Creates World's Largest Payment Routing Data Provider


    Accuity, the global leading provider of payment routing data, AML

screening software and services, today announced that it has acquired 100% of

London-based CB.Net, a reference data provider for the global banking

community. The acquisition, which is effective immediately, brings together

two of the world's largest payment data providers. Thousands of financial

institutions and corporates worldwide already rely on Accuity and CB.Net to

improve rates of payment straight through processing (STP).


    The acquisition will significantly bolster Accuity's existing customer

base of over 15,000 clients in 150 countries and create the largest, most

comprehensive payment data provider worldwide.


    "Merging CB.Net's strength in the European market, particularly its

strategic partnerships with the European Payments Council (EPC) and the Euro

Banking Association (EBA), with Accuity's well-respected history and

unrivaled product portfolio will deliver immediate value to both firms'

current and prospective customers," said Hugh M. Jones, President of Accuity.


    "The combined company represents a formidable presence in the global

payments industry and will deliver additional value and services to financial

institutions worldwide. Accuity is now the authoritative source for all

global payment data and sets the standard for the industry."


     The combined company’s market-leading payments products include The Global Banking Resource(TM),

Global Payment File(TM) and IBAN File from Accuity and CB.Net’s BankSearchPluS(TM), BroadcastAlert and

BroadcastSearch. These products offer a wide range of critical payments data including SWIFT/BICs, active

and inactive national clearing codes, Standard Settlement Instructions (SSIs), SEPA Credit Transfer

Adherence Participants and IBAN routing information.


    "Since establishing CB.Net in 2000, we have strived to provide the

payments industry with the highly coveted 'golden copy' of reference data - a

trusted set of data for managing all aspects of payment STP within

one organisation. This merger makes that goal a reality." said Ian Dunning,

Managing Director of CB.Net. "I am looking forward to the new opportunities

that this merger provides and the new capabilities that it delivers to the

marketplace and our partners."


    "As one company, Accuity and CB.Net offer the best single source of

payments data, more solutions and greater flexibility to the marketplace,"

said Jones. "Together, we will immediately begin the work of building even

stronger solutions to better serve the payment operations of banks and

corporates globally."


    About Accuity


    Accuity is the leading provider of global payment routing data, AML

screening software and services that allow organisations, across multiple

industries, to maximise efficiency and facilitate compliance of their

transactions.


    As the Official Registrar of ABA Routing Numbers since 1911, Accuity

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maintains the most authoritative and comprehensive databases globally with a

reputation built on the accuracy and quality of our data, products and

services.


    For more than 150 years our worldwide clients, located in over 150

countries, include C-level executives, managers, and technology

professionals. The solutions and services we provide are packaged in multiple

formats to serve their diverse needs.


    About CB.Net


    CB.Net is a data provider dedicated to the delivery of reference data

solutions to the global banking community. Established in June 2000 by a

group of ex-bankers and IT professionals, London-based CB.Net recognises the

importance of reliable reference data in meeting compliance requirements and

bringing cost savings and greater efficiency in international payments. The

strategic focus of CB.Net's Payments Reference Data Service (PRDS) is to

develop products and solutions for the international payments industry.

CB.Net is a wholly-owned subsidiary of Accuity


SOURCE: Accuity



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