Case Study: Betri Banki achieves improved straight-through processing and prevents failed cross-border payments with LexisNexis Risk Solutions' Bankers Almanac Global Payments Resource

Betri Banki Increases Customer Satisfaction and Prevents Failed Transactions by Using LexisNexis® Bankers Almanac® Global Payment Resources

Betri Banki, a retail and commercial bank from the Faroe Islands, processes hundreds of cross-border payments daily and needed to reduce manual effort, prevent rejected transactions and raise its straight-through processing (STP) rate to maintain a smooth customer experience.

The bank implemented LexisNexis® Bankers Almanac® Global Payments Resource, an online lookup for SSIs, SWIFT/BIC codes, IBANs, correspondent details and institutional data. The tool sped up validation, cut research time, reduced settlement risk and failed payments, improved efficiency and increased STP—resulting in faster, more reliable cross-border payments and better customer outcomes.

Betri Banki

Ole Guldborg Nielsen

Chief Financial Officer