BankersAccuity, are continuing to refine and expand the capabilities of IBAN Complete, their IBAN payments solution, which incorporates the checking rules needed for IBAN validation and conversion, including rules defined on country and increasingly, bank-specific levels.

BankersAccuity noted that countries in 28-member SEPA zone are beginning to anticipate the 'next phase' of SEPA implementation — moving from high-value cross-border payment efficiency to more domestic, intra-market payment challenges.

This requires more than is currently being processed as Deutsche Bundesbank noted in their recent report on the rules governing the migration from national payment formats to SEPA-compliant payment messages within Germany. To process payments effectively following the February deadline, banks and financial institutions must go beyond simply combining legacy account number, bank branch code, checksum and country code to incorporate newer, enlarged bank branch code rules as detailed in the Bundesbank's Übersicht der IBAN-Regeln (Overview of IBAN Rules).