Danske Bank to Deliver TWIST Bank Billing Standard
Danske Bank has gone live as the first European bank with electronic transmission to General Electric (GE) on details of bank charges. The TWIST bank billing standard (BSB) is designed to enable banks to periodically advise their wholesale clients of their service usage and charges. Danske Bank can deliver electronically to its customers in five European countries the structured and standardised details of type, quantity, price and other information about their bank services billed to wholesale users. GE receives TWIST BSB-files from Danske Bank in Denmark, Sweden, Norway and Finland, with Ireland to be the next country. The information is used to analyse and control the development in the debited fees, creating a transparent relationship between the bank and the customer.