E-BAM, sanctions screening, denied party checks, embargoes and AML: meeting regulatory and internal compliance requirements is a challenging task for corporates. The best way to fulfil these requirements is to use a central solution able to handle these tasks digitally and be flexibly adapted to new regulations. The be-all and end-all of such a solution is smooth integration into the corporate's internal processes and payment transaction workflows.
The solutions and tools for the banks' new "Banking-as-a-Service" offerings are ready. With the API-based interfaces, end-to-end integration (E2E) can be achieved and business processes can be automated, ensuring that current requirements in corporate banking can be met in a full and secure way.
The current efforts to harmonize European payments are showing initial results and opening up new options for many areas of Electronic Banking. In combination with the upgrade to the EBICS 3.0 communication standard, the XML formats of the latest ISO generation enable significant progress in the standardisation, real-time processing and harmonisation of corporate banking operations. With an e-banking system incorporating multibanking as well as the integration of country and bank-specific features, an international payment hub can be established for all European payment.