Accuity, the provider of payment routing data, AML screening software and services, has acquired 100% of London-based CB.Net, a reference data provider for the global banking community. The acquisition brings together two large payment data providers.
The acquisition will significantly bolster Accuity’s existing customer base of over 15,000 clients in 150 countries and create large and comprehensive payment data provider worldwide.
The combined company’s payments products include:
The Global Banking ResourceTM, Global Payment FileTM and IBAN File by Accuity and CB.Net’s BankSearchPlusTM, BroadcastAlertTM and BroadcastSearchTM. These products offer a wide range of cri tical payments data including SWIFT/BICs, active and inactive national clearing codes, Standard Settlement Instructions (SSIs), SEPA Credit Transfer Adherence Participants and IBAN routing information.
“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,” says Hugh M. Jones, president of Accuity.
“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.” says 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.”
L.D.