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.
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