Payments standards have taken a step closer to fruition following the launch of TWIST’s XML-based standards for commercial payments and working capital management. The standards, designed to support corporate-to-corporate straight through processing, cover invoice processing and the automated processing of payments supporting electronic fund transfers. The standards include an XML core payment kernel for corporate-to-bank payment initiation and status messages, produced through collaboration between four standard bodies (IFX, OAGi, SWIFT and TWIST) and nine banks. Tom Buschman, Treasury Development Manager at Shell and coordinator of TWIST, said: ‘Several organisations have already started with the implementation of the harmonised payment standards. To further encourage take-up of the new standards, TWIST is establishing various supporting activities, including research, implementation support, training and education.’
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more