IBC / TWIST BSB – Fall 2014 Newsletter

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  • In 2014, one more bank went live with the BSB (Bank Service Billing); RBS (Royal Bank of Scotland). RBS joins the 13 other banks that are live; Bank of America Merrill Lynch, Barclays, BNP Paribas, Citi, Danske Bank, Deutsche Bank, HSBC, Intesa Sanpaolo, JPMorgan, SEB (Skandinaviska Enskilda Banken), Société Générale, Standard Chartered Bank and UniCredit. Two more banks are currently in development of the camt.086 message; Commerzbank with plans for a pilot in the 4th Qtr and a Pan-European bank planning to go live sometime in 2015. Five banks now offer the BSB in the ISO 20022 camt.086 message format; Bank of America Merrill Lynch, Barclays, RBS, Standard Chartered Bank and UniCredit. For more information on the banks that are public and what they say, see News from the Banks.
  • Nine vendors offer a variety of products to help corporates to process and analyze BSBs. They are; Chesapeake Systems Solutions, GTreasury, Hansa Orga, Kyriba, Oracle, SunGard, TIPCO Treasury & Technology (the IT-Spinoff of Schwabe, Ley & Greiner), Treasury Intelligence Solutions and Weiland Corporate Solutions. One additional vendor, AxleTree, plans to release its product in Jan 2015. Two vendors provide billing software to banks; Info and Zafin. Read about their offerings in News from the Vendors.
  • AIG, Merck and Seimens share their experiences in News from the Corporates.
  • Many banks responded to a survey about their implementing the ISO 20022 camt.086 and Global Service Codes standards. Read a synopsis of their responses, ISO 20022 and GSC Survey.
  • Lastly, a request was made to and accepted by the ISO 20022 CGI-MP (Corporate Global Implementation – Market Practice) to add the camt.086 to the list of standards to go through the ‘Harmonization’ process. “The goal of the CGI-MP is to simplify implementation for corporate users and, thereby to promote wider acceptance of ISO 20022 as the common XML standard used between corporates and banks.” Read the CGI–MP camt.086 Proposal Executive Summary. For additional information contactSelina Bolton atselina.bolton@db.com

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For more information read below.

Feature

Banking Survey – Implementation of camt.086 Message and Global Service Codes

The ISO 20022 camt.086 BSB message version of the TWIST BSB is two years old and the AFP Global Service Codes (GSC) is now three years old. Question: how far along are the banks in implementing both standards? A survey was sent to 30 banks that are active with the BSB or have an ongoing interest. 15 banks responded. Below are the aggregate results of the survey.

The ISO 20022 camt.086 message is the new version of the BSB. It is functionally equivalent as the TWIST version 3.1. All future enhancements will only be to the camt.086 message.

The Global Service Codes allow receivers of BSBs from multiple banks to do standardized analysis of bank services. All bank systems run on their own set of proprietary service codes; these are transmitted with the BSB. The GSC allows banks to also report the services using an industry standard codes; that allows corporates to compare services between banks and to aggregate services across all banks.

Banks

  • Of the 30 banks who received the survey:
    • 14 banks are live with the BSB
      • 2 with only the camt.086
      • 8 with only the TWIST version 3.1
      • 4 with both versions
      • 2 are in limited customer release
      • 2 are in development with the camt.086
      • 2 have future development plans
      • Of the 5 banks that responded to the survey and produce only the TWIST version 3.1:
        • 1 is currently working on the camt.086
        • 4 are planning on implementing the camt.086 in 2015 or 2016
      • Of the 9 banks that responded to the survey and produce the TWIST version 3.1:
        • 8 banks have no intention of sun-setting the version 3.1
        • 1 bank indicated that it is TBD
      • Implementation of the Global Service Codes vary:
        • 3 banks are live with the GSC for their 3.1 version
        • 4 banks have implemented the camt.086 with the GSC
        • All other banks have indicated that they will implement the GSC with the camt.086
      • Of the 10 banks that responded to the question: ”About how many bank customers receive the BSB?”:
        • The banks range ran from 2 to 325+.
        • Throwing out the high and low numbers, 8 banks averaged 32 corporate customers each.

In summary, banks have picked up speed migrating to the camt.086 message. While some banks already provide the Global Service Codes with TWIST version 3.1, the majority will implement with the camt.086.


CGI–MP camt.086 Proposal Executive Summary

The Pre-Study Task Force provided a forum for corporations, banks and vendors to collaborate on a 6-week assignment to assess the feasibility of harmonizing BSB and camt.086 messages.

The Task Force recommends that a Working Group be formed to undertake a detailed BSB/camt.086 harmonization assignment:

  • Ø In-scope:
    • Build upon the foundations laid by TWIST and AFP.
    • Clarify message schema capability and where required enhance message schema to meet the requirements of Cash Management products e.g. addition of balances, interests, value dates, tax etc.
    • Establish a global, universal service code set, to be recommended as a standard for all corporations, banks and vendors.
    • Extend the set of mandatory fields to support the requirements of eInvoicing to meet Global authority requirements.
    • Improve the implementation and validation guidelines to assist banks with adoption and standardization, focusing on core capabilities that should be implemented.
    • Further explore the drivers (technology, economic, operational) that will enable the broad adoption of standards by banks
    • Ø Out of scope:
      • Delivery channels
  • Ø The Task Force also recommends as a second phase, that the Working Group consider the following:
    • Expand the global, universal service code set to include additional bank services e.g. Guarantees, Loans, Derivatives etc.

NEWS FROM THE BANKS


















News from the Corporates

Robert McGlew of AIG says “AIG has a goal of having all bank fees reported electronically for all bank accounts across the world.

AIG has had some success with major banking partners in terms of reporting. Even banks that supply BSB file have challenges in terms of quality of data and coverage to all countries. AIG would like to expand reporting with all BSB capable banks. We encourage all banks to continue to make progress to be BSB capable in the near future.

Issues experienced:

  • Quality of data issues:
    • Target Currency incorrect
    • No “Sent Prices” included in submission
    • Summarized cost submitted
    • Taxes paid included as a bank fee
    • AFP Codes not used / Categorizing Fees inconsistent
    • Cost of BSB file transmission not in line with other banks and/or other file transmissions bank currently sends.
    • Banks to be more responsive to BSB requests.”

Martin Postweiler of Merck says “Merck KGaA (doing business as EMD in North America) has made BSB capability a standard requirement in all Cash Management RfPs. In addition, we keep asking our existing core banks to provide an electronic reporting/invoicing with high priority in all relevant countries.

Merck also participated in the task force that prepared a potential 5th CGI MP Working Group to further harmonize the standard.

As we are currently in the scoping phase of replacing our TMS, the new system will ideally also process TWIST BSB files.

Furthermore, we strongly encourage other Corporates to talk their Banks into joining this initiative; it should be also in the bank’s own interest to exploit the benefits of harmonized and paperless billing/reporting systems.

Treasury is becoming more and more involved in strategic tasks as well as having to cope with more regulation. Low value, manual, paper based and intransparent processes should therefore urgently be looked at. TWIST BSB, together with other projects like eBAM, e-Invoicing or digital currencies will help improving those processes.”


Jonas Korte of Siemens Financial Services says “Siemens is now live with a software solution that has been rolled-out into its treasury community to handle and process electronic bank billings. Provision and ramp-up of billing files for the Siemens group is underway with a set of dedicated banking partners. We are looking forward and expecting other bank partners to join and support this effort to support an electronically readable and transparent invoicing process as soon as possible.
Initiatives like TWIST/camt.086 as well as the newly founded CGI workgroup to define a common standard with regards to electronic billings for banks and corporates set a strong basis to deepen the trust, reliability and efficiency in bank-to-corporate relationships. We like to encourage corporates and banks to join that endeavor of a substantially simplified billing process and lever the respective opportunities to the mutual benefit of the involved parties.“


News from the Vendors

Axletree says; “As Corporate treasury expands banking relationships coupled with global growth, forecasting and controlling bank fees is an important activity. Automating the tracking and reporting of bank fees using standards like BSB is the way forward. Tools that can leverage industry standards based bank statements are being sought after by treasury departments. Axletree’s TreasurYtree TMS incorporates all latest standards in delivering automated bank fee analysis solutions.

Visit www.axletrees.com or contact sales@axletrees.com for more information.”


Chesapeake has experienced rapidly growing interest in international bank fee analysis over the past year. We believe that the release of global standards is responsible for a new awareness of this opportunity. As a result, Chesapeake’s SmartAnalysis system has dramatically increased processing volumes for TWIST files and international print image bank statement files. We have implemented fully automated scheduling and parsing for importing both these files types.

We are still awaiting the proliferation of ISO camt.086 files, along with widespread adoption of AFP Global Service Codes. But these developments will certainly follow as enhancements, with further standardization and simplification, of the processing.

A number of user oriented features have been added to SmartAnalysis, including bank ratings (Standard and Poor’s and Moody’s), pivoting cost spreadsheets (internal organization assignment versus banks), and earnings credit / net charge analysis.

Finally, we have released our Bank Account Management (BAM) processing modules, as components of both our SmartAnalysis Relationship Manager and our SmartTreasury treasury management solution.”

For additional information contact John Snyder, jsnyder@chessys.com, +1 410.356.6805.


GTreasury is a leading provider of both SaaS and on-site full treasury management solutions. Parts of our offering are the Bank Administration Module (BAM), designed to manage all bank accounts using a centralized work-flow and database, and its electronic delivery subset of eBAM. Another subset is the GTreasury Account Analysis module that provides an electronic method of collecting and managing all Bank Service Billing (BSB) activities from any bank around the world.

The GTreasury Account Analysis modules supports all versions of EDI 822, ISO 20022 camt.086, TWIST BSB, and a number of bank custom formats. GTreasury is an authorized distributor of the AFP Service Codes and AFP Global Service Codes. All individual bank service codes can be mapped to these generic codes. Companies may use the AFP codes to compare services across banks as well as design their own custom service codes. In addition, GTreasury supports the ability to maintain multiple service prices in order to compare them to the monthly account analysis and BSB reports. Prices can be expressed in local currencies or reduced to a base currency using either stored FX rates or the rates provided in the bank’s own ISO formatted files.”

For additional information about the GTreasury offerings, please contact Ashley Pater at aepater@gtreasury.com or call +1 847-847-3706.


Hanse Orga is a leading provider of innovative financial software embedded in SAP®. Its solutions are certified by SAP®. The growing demand for higher efficiency and transparency in the area of bank fee analysis within companies has become a global catalyst for deploying the Bank Performance Analysis (BPA) module of Hanse Orga’s SAP®-integrated FinanceSuite eBAM. In the future, it is also planned to make an ERP-independent, SaaS bank fee analysis solution available, which will be offered by the Hanse Orga subsidiary cogon.

Hanse Orga supports all active formats and message standards – including EDI822, camt.086, and Twist BSB – supporting both the AFP Domestic and Global Service Codes. Further, Hanse Orga is an authorized license provider of the AFP Domestic and Global Service Codes.

With the BPA module of the FinanceSuite eBAM, Treasurers work within a single platform to forecast bank fees, track services and transactions, and import bank billing statements to automate the allocation, reconciliation, and dispute resolution processes. The BPA dashboard enables Treasurers to keep track of key bank performance indicators by harnessing Hanse Orga’s powerful and intuitive data visualizations. Additionally, Hanse Orga provides a full BAM solution including bank account and mandate management, government and compliance reporting (country specific reporting such as FBAR), document management, workflows, eBAM readiness, and continues to be at the forefront of development to meet market and client needs.”

For additional information contact Christos Kiosses, C.Kiosses@hanseorga.de, +49 (0)40 51 48 08 – 631


Kyriba‘s BSB offering delivers bank fee analysis and comparisons for corporate customers. The module – which can be subscribed stand-alone or alongside other Kyriba modules – offers analysis of bank charges versus pricing schedules, against prior periods, and comparison across bank relationships. Users may also choose to analyze banking costs against banking activity to measure cost effectiveness of the services. Kyriba supports automated connectivity to banks and multiple BSB formats across varying geographies.”

For additional information contact Bob Stark at bstark@kyriba.com.


Oracle says “Backed by the power and deep financial expertise of Oracle, Oracle Revenue Management and Billing (ORMB) is a fully integrated enterprise application for pricing, accounting, collections and revenue realization. ORMB is used by the world’s top banks and payments companies. Our centralized pricing and billing solution delivers benefits to your business and your customers. ORMB helps reduce costs, unlock revenue opportunity, improve efficiency and deliver a definitive ROI. ORMB is also enabling leading global banks with TWIST EDI standards capabilities, which is being used at all ORMB implementations.”

For more details contact Akshaya.kapoor@oracle.com.


SunGard AvantGard’s Bank Fee Analysis automates bank compensation analysis to produce timely reports on bank services, fees, compensation practices and efficiently tracks trends and differences in bank service charges. It facilitates the import and storage of monthly bank fee statements. As monthly statements are imported, analysis between scheduled and actual prices can be generated. Comparisons between banks, pricing history, volume/price comparisons, month-to-month and year-to-year (along with balance information) can all be analyzed for any bank or period of time. This allows the user to efficiently track trends and differences in bank service charges. AvantGard Bank Fee Analysis supports EDI 822, TWIST 3.1, CSV and AFP Global Service Codes. ISA camt.086 is being developed for release in 2015.

AvantGard BFA compliments the suite of SunGard Treasury solutions and is tightly coupled with eBAM.”

For additional information contact avantgardinfo@sungard.com or Phone Number: +1-800-825-2518.


TIPCO Treasury & Technology – www.tipco.at – (the IT-Spinoff of Schwabe, Ley & Greiner) recruited Martin Winter (former CFO of Juwi AG) as Executive Partner. With his expertise we will further enhance our product portfolio around the Treasury Information Platform – TIP. Using TIP, our customers can easily establish the complete relationship with their banks on a global basis. It allows a complete overview over accounts, loans, deposits, guarantees, fx-transactions and bank fees. Additionally qualitative information about banks can be provided and bank meetings recorded. It interfaces with major TMS vendors like Reval, SAP, COPS, Technosis and with TIS the leading cloud platform for managing corporate payments. Additionally formats like CAMT.086, TWIST BSB and EDI.822 for bank fees are processed as well as bank account statements in MT940 and CAMT.053 format.

Your advantage: Prepare bank meetings with one click

In the coming months we are going to offer webinars and workshops that will show the benefits for Treasurers, which cover not only cost saving aspects but also process optimization and comprehensive analysis and monitoring of bank relations.

For additional information feel free to contact Hubert Rappold at hr@tipco.at / +43 676 925 7777

Register for webinars at http://tipco.at/essential-guide-to-treasury-reporting-webinar-series/?lang=en


Treasury Intelligence Solutions has further enhanced our product portfolio, which also includes the Bank Fee Manager (BFM) solution. However, successful bank fee management starts with a central, audit proof inventory of all bank accounts in combination with workflows and governance processes. Besides that, payment processes need to be standardized and automated to reduce bank fees. TIS offers the market leading solution for Bank Account Management (BAM) and Payments (Bank Transaction Manager, BTM). With these SaaS solutions our customers reduce bank fees and process costs, at the same time they increase cash flow visibility. Automated processing of TWIST BSB / EDI 822 messages is an optional part of this package. We offer webinars and workshops that show the benefits for Treasurers and CFO`s.”

For additional information feel free to contact Joerg.Wiemer@tis.biz / +49 6227 69824 10. Register for our webinars or newsletter at www.tis.biz (go to events or newsroom)


Weiland Corporate Solutions, now a part of Fiserv continues to add to the companies using our BRMedge application. With more than 30 deployments of the BSB module, we have a great knowledge base of the statement delivery from all of the banks delivering using either of the BSB standards. BRMedge retrieves statement information from any version of the 822, both versions of the BSB and a variety of non-standard formats presented by banks not yet ready to adopt a global standard. The BRMedge system now supports the US and global AFP Codes fully and a license for use of the codes is delivered with every system. This gives customers the ability to fully utilize the AFP codes and build apples to apples matches for services across their banks. No longer are the companies reliant on the AFP code mapping performed individually by each bank.

Weiland recently completed camt.086 testing and consulting with one major bank, and has been engaged by another major bank to help develop their camt.086 offering.

The tenth generation of BRMedge is currently in testing and will be released to customers in early 2015. This latest version takes the automation processes even further and provides a fully cloud based platform that universally manages currencies, language and bank file formats. Weiland is also establishing a European presence through our London offices, which will allow European treasurers to benefit from the experience and expertise that we have in the bank fee monitoring space.”

For additional information Contact Dave Strand – david.strand@fiserv.com – 847-810-6140


Infor is a leading provider of business software and services. Combining powerful pricing and relationship management capabilities with comprehensive Business Intelligence, the Infor Complete Billing System meets the enterprise billing needs of leading financial institutions in over 200 markets around the globe. As part of a powerful array of statement options in CBS, Infor is proud to provide support for BSB and the AFP Global Billing Codes.Infor continues to advance this support of the camt.086 BSB format with the introduction of Infor BSB Manager. This robust offering extends the capability of the Infor Complete Billing suite by offering a comprehensive platform that collects and warehouses billing data from any source or platform in order to provide a consolidated BSB statement.”To learn more about Infor’s billing solution, visit us at www.infor.com/solutions/fms/corebanking, or contact Glen Chancy at 407-916-4810 or glen.chancy@infor.com.


Zafin says “As an award-winning provider of Product and Pricing Lifecycle Management (PPLM) banking solutions, Zafin is committed to increasing the value of banking relationships between banks and their customers. Part of this equation is ensuring fair and accurate pricing and billing between bank and client, which the ISO 20022 TWIST BSB standards are designed to support. Our PPLM solution, miRevenue, is fully compliant with market-leading standards such as ISO 20022 TWIST BSB, providing relationship pricing and billing services at many tier-1 banks right across the globe. We are happy to continue to support this important initiative.”For additional information contact Darren Negraeff at +1 604 559 9301 or darren.negraeff@zafin.com.


Lastly you can participate

  • Pass this newsletter on to others who might be interested and email us to include them in future mailings.
  • Corporates, you should contact your bank relationship managers to let them know of your interest in receiving the BSB.
  • Let us know if your company, bank or vendor wishes to be publicly identified with the TWIST BSB project and tell us what you are doing.

Best Regards,
Paul Burstein


paul.burstein@twiststandards.org

CONTACTING TWIST

TWIST Process Innovations Ltd
Cheyne House, Crown Court
62-63 Cheapside, 4th Floor
London, EC2V 6JP
United Kingdom

Email: info@twiststandards.org

Web: To find out more about TWIST activities, please go to at www.twiststandards.org



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