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SWIFT Pre-Validation

Swift Pre-Validation

Expand your reach on a global scale by leveraging the pre-validation service offered by Swift. SurePay is an official Enabler partner of Swift and can take banks from local Verification/Confirmation Of Payee/IBAN-Name Check to EU and beyond to Global. Trust in a secure and accredited platform for a frictionless and fraud-resistant financial experience.

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Fewer errors and fraud
Faster payments
Less friction
Lower operational costs

Explore the Efficiency
of Swift Pre Validation

Discover the groundbreaking solution of Swift Pre Validation, designed to minimise errors and enhance the accuracy of payment messages prior to transmission. This approach empowers you to proactively validate payments, eliminating friction, minimising delays, and ensuring a smooth payment experience for your customers. Traditional payment investigations can be both time-consuming and costly, resulting in frustrated customers. Imagine a scenario where you could prevent these investigations entirely. With Swift Pre Validation, you can verify the accuracy of payment data before initiating the transfer, guaranteeing that funds reach their destination seamlessly and maintaining the satisfaction of your customers. Say goodbye to payment hassles and welcome a new era of efficient, error-free transactions.
Say goodbye to typos, mistakes and formatting errors
Say goodbye to long and costly investigations
Say goodbye to authorised push payment fraud cases
Say goodbye to opaque payment journeys

How does it work?

SurePay connects on behalf of the Bank to the Swift Pre-Validation Service for sending a Verification Of Payee request (Consuming) and for responding to a Verification Of Payee request (Data provisioning).

Sending a Verification Of Payee Request (Consuming)

To do so, the Bank sends a request to SurePay, that includes:

  • IBAN (Account Number)
  • BIC Code
  • User input (name)

On behalf of the Bank, SurePay will send the request to Swift based on the bank’s Swift certificate with the Pre Validation service selected. The Requests will be validated against the databases of the Participants through the use of the Swift BAV Scheme or against the central database from Swift named the  ‘Central Beneficiary Account Verification’. 
SurePay will send a Response back to the bank, containing a name matching result and – if necessary – additional information on the account. 

Responding to a Verification Of Payee Request (Data provisioning)

The Bank will respond to incoming requests via the Swift BAV Service where SurePay will match the incoming input against the data provided by the Bank and give back the response to the Swift BAV Service.

Start today. Be sure who you pay.

Book a meeting to discuss how SurePay can support your organization.
Book a meeting

Start today. Be sure who you pay.

Book a meeting to discuss how SurePay can support your organization.
Book a meeting