IPSO (Irish Payment Services Organisation). Every company that does financial transactions can benefit from having a SORT Codes database to verify it's payments, minimizing the risk of mistyped or incorrect data.
IBAN imposes a flexible but regular format sufficient for account identification and contains validation information to avoid errors of transcription. The Payments Council has also introduced a best practice recommending businesses and banks refresh their reference data weekly; whilst smaller businesses should ensure their data is updated at the very least on a monthly basis.