Citi’s treasury and trade solutions has gone live with eXtensible Markup Language (XML) standard ISO 20022 camt.052 and camt.053 messages for client statements.
The ISO XML messaging standard allows firms to take advantage of a more powerful, and flexible, ‘universal’ format that provides firms with greater flexibility should additional fields/data need to be included in the future.
Microsoft has implemented this service in its treasury operations. Having gone live with client statements, Citi worked with Microsoft to successfully implement the standard moving from their UN/EDIFACT FINSTA end-of-day statements to ISO XML end-of-day statements.
In addition, Microsoft was also migrated from MT942 intraday statements to ISO XML intraday statements. In total, nearly 700 Microsoft accounts across 80 branches were successfully migrated to these new statements files. With the tag structure of XML Files, Microsoft will now have the ability to capture more information as the industry and Citi offer additional optional services (AOS) to corporate customers. The AOS offered will allow for Microsoft to improve their straight-through processing (STP) rates and improve automated reconciliation of statements.
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