Accuity rolls out flexible database tool
Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.
Called SmartWorks, the tool is essentially a front-end that allows the user to view the company’s databases however they want to. “Banks and corporates are tapping into our data for different reasons,” said Hugh Jones, chief executive of the company. “Some may want to check counterparty data for risk purposes, and others might be checking the information to make a payment.”
The company has also rebranded, dropping the Bankers from BankersAccuity that had been added at the time of the merger. While the corporate branding will be as Accuity, the Bankers Almanac will continue as a product name.
Jones said as corporates expand their use of Accuity data to improve payment processing, the bankers name was confusing the customer base.
The combined Accuity database provides bank organisational details and financial information covering 800,000 physical locations, each involving some 700 to 800 fields of data. It is updated daily with around 5000 new items.
The new SmartWorks front end will be available to existing customers immediately and to new clients over the coming months as further products and features are announced. Future product enhancements will concentrate on ensuring that data gathering and documentation is consistent and documented in a central location.