GXS Launches Educational Website for Corporate-to-bank Connectivity
UK business-to-business (B2B) integration services group GXS has launched a new educational website, named Corporate-to-bank. The new site provides resources and information to help educate corporate treasurers and transaction bankers about the complexities of corporate-to-bank connectivity.
GXS said that many corporate treasury departments struggle to obtain timely information regarding cash positions, interest rates, payables, receivables and foreign exchange (FX) from their financial institutions. Corporate-to-bank aims to improve connectivity between corporations and their financial counterparties, thereby enabling treasurers to improve global cash visibility. Additionally, the site serves as a resource for information on topics such as SWIFT Corporate Access, ISO 20022 XML message standards, the Electronic Banks Internet Communications Standard (EBICS) protocol and the single euro payments area (SEPA).
“Today’s corporations rarely rely on a single banking institution, but rather maintain relationships with several banking partners,” said Patricia Hines, director of financial services industry marketing at GXS. “To obtain statement balances or submit payment instructions to these banking partners requires corporates to use a variety of communications protocols and messaging standards.
“Corporate-to-bank is designed as a resource to help remove some of the complexity of the process and allow for timely and accurate financial analysis and action.”