SWIFT has selected SunGard’s AvantGard electronic bank account management (eBAM) portal, together with SunGard’s EcoSystem Communication Hub (Echos), for its eBAM central utility pilot. The goal of the pilot is to increase global adoption of the standards by creating an eBAM ‘hub’ to address the country and bank-specific variances of the standards.
As part of the initial exploration of the eBAM ‘hub’ concept, SWIFT selected SunGard for the pilot project.
“While the ISO 20022 XML messages standardise the key information needed for eBAM, many corporations and banks have been unable to realise the full benefits of these due to a lack of a central repository where country and bank specific eBAM requirements are maintained and made available to software vendors and corporations,” said Carlo Palmers, corporate market solution manager with SWIFT.
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