More NewsCapital One Becomes Accredited Provider of AFP Service Codes

Capital One Becomes Accredited Provider of AFP Service Codes

Capital One Bank has become an accredited provider of Association for Financial Professionals (AFP) Service Codes – the standard that corporate treasury departments use for comparing bank services. The codes give companies over 800 identifiers for many banking services. Global corporations use the codes to track bank services and to organise, rationalise, and automate their monthly review of account analysis (billing) statements.

By displaying the AFP codes in corporate account statements, accredited banks demonstrate to their corporate banking partners that they are following the highest global standard of fee reporting and enhanced customer service.

“Corporate treasury staff are resource-constrained and must produce statement analyses in quickly,” said Tom Hunt, AFP’s director of treasury services. “By becoming an accredited provider, Capital One clearly supports fee transparency and simplification of processes so that treasury teams can devote more time to managing their cash positions.”

“Our goal is to create an environment where customers can confidently make decisions about their treasury management needs,” said Colleen Taylor, executive vice president (EVP) and head of treasury management and merchant services at Capital One Bank. “Implementing the AFP service codes goes a long way towards creating a transparent and streamlined process for our clients, letting them easily identify the best options for their businesses.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi