Vienna, Austria - Common Global Implementation Market Practice (CGI-MP) Working Group 4 is pleased to announce the release of its best practice guide to eBAM. The document provides comprehensive guidance to organizations looking to adopt Electronic Bank Account Management (eBAM) and leverage its benefits for efficient bank account management.
eBAM streamlines the opening, closing, and maintenance of bank accounts by automating the exchange of data between companies and banks. However, the adoption of eBAM can be challenging without a clear understanding of best practices and a roadmap for implementation.
The CGI MP Working Group 4's new Best Practice Guide aims to fill this gap by offering practical guidelines for implementing eBAM. It provides a step-by-step guide to help organizations understand the key considerations for selecting an eBAM solution, developing an implementation plan, and executing a successful eBAM project.
"We are excited to share our eBAM best practices whitepaper with the industry," said Hubert Rappold, Chair of the CGI MP Working Group 4. "Our goal is to help organizations of all sizes and industries adopt eBAM successfully and realize its benefits, including increased efficiency, enhanced security, and better compliance."
The whitepaper is a culmination of the CGI MP Working Group 4's extensive research and experience in implementing eBAM solutions across various industries. The working group comprises industry experts and practitioners with deep expertise in banking, treasury management, and financial technology.
To download the guide, visit CGI MP Working Group 4 website on swift.com.
Common Global Implementation Market Practice (CGI-MP) provides an open forum for financial institutions and non-financial institutions to progress various corporate-to-bank implementation topics on the use of ISO 20022 standards and other related activities in the payments and cash management business domains. CGI-MP aims to simplify implementation for corporate users thereby promoting wider adoption of ISO20022 standards used between corporates and banks.
About SWIFT CGI MP Working Group 4
CGI MP Working Group 4 is a collaborative community of industry experts and practitioners dedicated to advancing best practices in banking, treasury management, and financial technology. The Working Group's mission is to drive innovation and promote efficiency, security, and compliance in financial operations across industries.