Jack Eapen C [email_address] http://www.jackeapen.com/
<ul><li>Problem Statement </li></ul><ul><li>In Search of a Solution </li></ul><ul><li>TWIST BSB Standard </li></ul><ul><li...
<ul><li>Lack of transparency and consistency in bank charges </li></ul><ul><li>Analysis of bank fees is labour intensive <...
<ul><li>Players involved: </li></ul><ul><ul><li>International Bank Compensation Group (IBC) lead by GE </li></ul></ul><ul>...
<ul><li>The BSB standard defines  </li></ul><ul><ul><li>an electronic statement  </li></ul></ul><ul><ul><li>includes volum...
<ul><li>Using a compatible s/w, FIs can generate XML messages in compliance with BSB standard </li></ul><ul><li>These mess...
A BSB message is composed by the “header” section and multiple “electronicStatement” sections A statement is structured in...
<ul><li>Check all bank calculations (find errors) </li></ul><ul><li>Examine each and every line item charge </li></ul><ul>...
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Twist Bank Services Billing Standard

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TWIST BSB is a standard governing the format of electronic statements sent out by banks and financial institutions to their corporate customers. This presentation is a very bried intro to the topic

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Twist Bank Services Billing Standard

  1. 1. Jack Eapen C [email_address] http://www.jackeapen.com/
  2. 2. <ul><li>Problem Statement </li></ul><ul><li>In Search of a Solution </li></ul><ul><li>TWIST BSB Standard </li></ul><ul><li>Technical Details </li></ul>
  3. 3. <ul><li>Lack of transparency and consistency in bank charges </li></ul><ul><li>Analysis of bank fees is labour intensive </li></ul><ul><li>Even the electronic statements are not machine readable </li></ul><ul><li>ANSI X12 822 standard was in use in the US; but no European equivalent </li></ul><ul><li>Gaps in ANSI X12 822 </li></ul>
  4. 4. <ul><li>Players involved: </li></ul><ul><ul><li>International Bank Compensation Group (IBC) lead by GE </li></ul></ul><ul><ul><li>TWIST ( Transaction Workflow Innovation Standards Team) </li></ul></ul><ul><li>The Solution: </li></ul><ul><ul><li>Receive bank services charges in a standardized electronic file </li></ul></ul><ul><ul><li>Use software to process bank service charges </li></ul></ul><ul><ul><li>Process and analyze the bank service charges </li></ul></ul><ul><ul><li>Work with your banks to receive better value </li></ul></ul>
  5. 5. <ul><li>The BSB standard defines </li></ul><ul><ul><li>an electronic statement </li></ul></ul><ul><ul><li>includes volumes and associated charges for all billable services </li></ul></ul><ul><ul><li>that can be sent by a Financial Institution to its wholesale customers (e.g., corporations, governments, institutions) </li></ul></ul><ul><ul><li>detailing their usage of financial services and their related charges </li></ul></ul>Released in 2006
  6. 6. <ul><li>Using a compatible s/w, FIs can generate XML messages in compliance with BSB standard </li></ul><ul><li>These messages are passed to the corporate customers through a mutually agreed channel. This is outside the scope of BSB standard </li></ul><ul><li>At the receiving end, corporate can process the XML files using appropriate s/w </li></ul>
  7. 7. A BSB message is composed by the “header” section and multiple “electronicStatement” sections A statement is structured in two sections: “statementHeader” and “statement”
  8. 8. <ul><li>Check all bank calculations (find errors) </li></ul><ul><li>Examine each and every line item charge </li></ul><ul><li>Check expected balances, volumes and service prices </li></ul><ul><li>Allocate bank charges automatically </li></ul><ul><li>Perform modeling and “what if” </li></ul><ul><li>Compare divisions, departments, regions, etc... </li></ul><ul><li>Import/export data to general ledger and budget systems </li></ul><ul><li>Perform bank-to-bank comparisons </li></ul><ul><li>Perform trend analysis over time </li></ul><ul><li>Satisfy Sarbanes-Oxley requirements </li></ul><ul><li>Identify unused services </li></ul><ul><li>Archive statements electronically </li></ul>

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