HSBC has selected Petra Financial as a partner to provide a new tool that will allow the bank’s clients to validate BIC and IBAN details before the submission of a payment or, if required, to derive these details from a bank name, address and Basic Bank Account Number (BBAN), subject to counterparty verification. The tool, which is available to corporate clients either on a CD or online, has been dubbed Global Payments Directory BIC and IBAN.

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