Large multinational corporations want to streamline their banking practices. In order to do this, they need all of their bank billing electronically, and in a common format. Corporations do not know with any degree of accuracy what is being paid to international banks for their services.

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  • Large multinational corporations want to streamline their banking practices. In order to do this, they need all of their bank billing electronically, and in a common format. Corporations do not know with any degree of accuracy what is being paid to international banks for their services. Main concerns were: No way of accurately verifying international bank fees Analysis of bank fees is labor intensive No way to provide management with global bank relationship metrics International cash management fees are decentralized with few controls in place Compliance issues, like Sarbanes-Oxley Act Normally billing in banking has following aspects. It must be periodic (at pre agreed duration... ) Details of the transaction must contain ref no. of client It also covers statutary payment details if any Format can be customised as per the clients requirement Mode of presentation can also be selected per clients selection (fax, mail, hard copy... ) Grouping of services done at various levels Tracking of repayment Reconciliation for repayment
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  • June 2009
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  • Large multinational corporations want to streamline their banking practices. In order to do this, they need all of their bank billing electronically, and in a common format. Corporations do not know with any degree of accuracy what is being paid to international banks for their services.
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  • Bank Services Billing Standard
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