eBAM
Electronic Bank Account Management (abbreviated as eBAM) represents the automation, through software, of the following activities betweens banks and their corporate customers: [1]
- Opening bank accounts
- Maintaining bank accounts such as changing account signatories or spending limits
- Closing bank accounts
- Generating reports as required by law or regulation
The technology that is commonly used to implement eBAM automation is defined by SWIFT and the ISO 20022 Standard for Financial Services Messaging. [2]
See Also
References
- ^ "On the Fast Track to eBAM". Bank Systems & Technology. 20 September 2011.
- ^ "Swift EBAM standard goes live". Finextra. 21 April 2010.