Tag Archives: eBAM
So You’ve Automated — But Do You Have Data Visibility?
The complexity in automated payments processing, electronic bank account management, and reference data management is in the end-to-end integration. The value of the automation is the enhanced visibility into payment, counterparty, security data.
Your competitive differentiation lies in the level of visibility you provide your customers. (more…)
What Percentage Of Your Transactions Are Processed Straight Through?
The Aite Group recently surveyed senior treasury and receivables management at 80 top US corporations. About half of the transactions at these firms were processed straight through. As a result, there remains a lot of opportunity to reduce costs and mitigate risk by increasing straight-through-processing (STP) of transactions. In addition, banks can help their corporate clients get better information about their payments and posting. For example, Treasury managers need to know where they can invest excess cash and where their funds are throughout the organizations to borrow internal cash.
At SIBOS 2010 (October 25-29 in Amsterdam), Informatica will discuss how the Informatica SWIFT Integration solution enables your customers to achieve true STP and get better information about their payments. This is especially critical given all the new regulation and industry changes that have been reflected in the latest SWIFT standard. With Informatica’s 2010 SWIFT certified solution, organizations can: (more…)
What Is The Best eBAM Approach For Banks—Provide An eBAM App For Corporates Or Support Any Corporate’s eBAM Requirements?
Banks need to be able to support any corporate’s eBAM requirements. Corporates (who work with multiple banks) would rather not invest in multiple IT projects to support eBAM. In addition, for banks to quickly onboard new corporate customers, it will be necessary to support any corporate’s eBAM requirements. As a result, what becomes critical is the bank’s ability to:
1. Accept and receive documents/forms from the corporate in any format, including word, pdf, or other non-XML formats
2. Support seamless integration to the bank’s back office
3. Provide the corporate with self-designed monitoring of the bank account management process (e.g. providing alerts based on the corporate’s specific rules)
Corporates require flexibility and the banks can provide that flexibility. This will enable the corporates and the banks to ramp up quickly together in electronic bank account management.
Hear from SWIFT on what they have heard on this issue as well as the latest eBAM developments.
Why Should Banks Develop A Strategy To Automate Bank Account Management Now?
Electronic Bank Account Management (eBAM) is a classic example of a win-win proposition. As the most manual, paper intensive interaction between corporate and institutional clients and banks today, the account maintenance process is inefficient, error prone and inherently slow.
Banks that invest in eBAM solutions will be able to reduce their operational costs, improve quality and responsiveness and meet an emerging demand from clients for innovative solutions that contribute to their bottom lines while also enhancing control. eBAM should be considered a fundamental component of an overall strategy to improve the client onboarding process, a response that TowerGroup sees as a critical differentiator going forward for the wholesale banking market.
Banks that take early action to roll out eBAM capabilities will be best positioned to respond to the projected rapid deployment of eBAM solutions on the part of their most valued corporate clients. eBAM is a game changer. Don’t be left out of the game.