Adoption of ISO 20022 payment standards has been accelerated since some years further to SEPA. In the following Treasury & Risk article, Amber Christian says: “Corporate treasurers should also be working to incorporate the CAMT053 bank statement standard into their technology infrastructure. CAMT053 is an XML standard for formatting bank statements that can replace BAI2, MT940, or Multicash formats.”
Christian adds: “A corporate treasurer whose transaction banks are capable of managing data in the CAMT053 format should look closely at the company’s systems and processes to determine how the organizational infrastructure would need to change in order to take advantage of the new format, and whether shifting to CAMT053 makes sense.”
Read more in the full article here.
INTIX helps banks and corporate treasuries implement the ISO 20022 CAMT053 standard by increasing visibility and control on those flows.