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ISO 20022 Submission TWIST BSB standard |
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ISO 20022 Submission TWIST BSB standardTWIST has for some years proudly hosted the Global Electronic Bank Services Billing Standard (BSB). BSB is a standard intended for use by banks and their wholesale transaction services users. BSB facilitates a monthly electronic communication of banking fees to their corporate customers and others incurring those fees.
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IBC/TWIST BSB - Progress as of August 2008 |
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A few months have passed since the last IBC/TWIST update on the implementation of the e-Invoicing TWIST Bank Service Billing, BSB, standard. Here is the latest news...
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Award TWIST and GE for Billing Standard |
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The Billing Standard for Bank Services (BSB) is increasingly successful. General Electric and TWIST were awarded the 2008 Adam Smith Awards in the category Bank Relationship Management. GE and TWIST won the award for the development of the BSB standard and their role in the successful implementation by Danske Bank and Barclays Bank. These awards are sponsored by Treasury Today magazine and aim to highlight “Best Practices and Innovation” in the field of treasury management. |
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A Control Framework for e-Invoicing |
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Today's business processes are to a large extent still paper-based, which results in inefficiencies as paper needs to be forwarded from one employee in a firm to the next either in the same firm or in another firm before it reaches its final destination.
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Intel calls AMQP Transport Protocol A New Way to Connect |
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The AMQP open protocol for the transport of messages, has obtained the active support from Intel. Where earlier Credit Suisse, Goldman Sachs and Deutsche Borse had joined the AMQP working group that already consisted of JPMorgan, RedHat, Cisco, TWIST and others, Intel took the plunge and behind the scenes tested the protocol in its laboratories. Using RabbitMQ AMQP* from Rabbit Technologies Ltd, and Pantor FAST*, high volumes of OPRA market data feeds and ranges of 45nm Quad-Core Intel® Xeon® processors, AMQP handled message rates peaking at 5 million per second. In a white paper called “AMQP: A New Way to Connect” Intel published its finding and stated that “when extrapolated across all pre- and post trade messaging functions […] it is clear that AMQP is capable of handling most workloads – including intra and interbank, bank to corporate, and corporate to corporate.” |
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Harmonisation in Europe around SWIFT/TWIST ISO 20022 payment standards |
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August 2008 - The European Payment Council (EPC), the coordination body of the European banking industry in relation to payments, has embraced the ISO 20022 standards for the SEPA project. When designing the so-called SEPA Rulebooks for Credit Transfers and Direct Debit, the UNIFY (ISO 20022) XML Message standards developed by SWIFT, TWIST, OAGi, IFX and UN/CEFACT were always at their core. |
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BARCLAYS is first UK bank to introduce TWIST BSB Standard to its customers |
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February 15, 2008 - Barclays has become the first UK bank to introduce the TWIST BSB 3.1 industry standard for bank services billing (BSB) with the electronic transmission of detailed bank charges to General Electric (GE). The BSB standard will enable the bank's customers to verify their bank fees in a way that is transparent, accurate and efficient. |
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