Corporates consider Bank Account Management services from their Banks slow and inefficient and the higher the number of accounts, the higher their sensitivity to the subject.
Corporates expect a higher level of services; hence they request the improvement of current processes by providing more transparency and better organization through the implementation of central monitoring of Bank Account Management. eBAM meets these requirements.
Digitisation of the exchanges between Corporates and Banks.
Simplification of the Bank Account Management through the harmonization and a better structuring of bank mandates.
Ensuring better security.
SWIFT, in close collaboration with Banks, including BNP Paribas, software Vendors and Corporates has designed a list of 15 eBAM messages to be used in the SWIFTNet network.
These messages are published at the ISO 20022 level, and they cover the entire process: Account opening after KYC, Mandate Management, Account closing, Reporting).