The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

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. Six banks already provide full bank services billing statements, another six are in the development phase and several others have publicly committed to doing so. General Electric now receives full bank services billing statements from several of its major banks, which it analyzes using specialist bank fee analysis packages. The key benefits from the analysis are that corporate treasury departments are now able, often for the first time, to spot bank charge errors and to compare charges.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree