Technology review 2010: Automating bank relationship management
Many corporate treasury departments have to use more than one cash management bank to provide all the services they require, which can make managing their banking relationships difficult. Combined with the growing use of digital identities, two other recent developments have begun to provide the framework for the automation of bank relationship management.
The first is the development of the global electronic bank services billing standard, launched in 2007, now being issued by TWIST and ISO. Banks around the world are slowly adopting this new XML-based standard providing the means for international companies to receive detailed bank services billing statements covering all the services provided and the fees charged by their cash management banks.