By Per Trifunovic, Head, Payments, Financial Messaging, D+H
Around the world, the benefits of standardized connectivity are becoming increasingly clear to the CFOs and treasurers of banks and corporates in all industries. Globally active corporates need to manage an increasing number of bank relationships, and they also need to speak an increasing number of languages: SWIFT, SEPA, ACH, FED, Chips and many more. The required use of standard messaging formats adds complexity to a company’s treasury department, and strong message transformation capabilities are required.
The ability to send standardized payment files and receive standardized bank statements boosts straight-through processing and enables more efficient banking relationships through the use of a single communication channel. Through the use of standardized financial messaging formats, funds become immediately visible, producing advantages in areas from cash and working capital management to fraud prevention and regulatory compliance.
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