A new standard for cash management reporting is coming that will streamline communications between banks and corporations, and provide greater uniformity, global capabilities and better interoperability with back-office systems, supporters say.
The X9 Accredited Standards Committee of the American National Standards Institute (ANSI) is nearing the end of its two-year effort to upgrade and expand the BAI-2 format, last updated 10 years ago and widely used for reporting account balances, transactions, lockbox details and controlled disbursement details. X9 expects to publish the new standard, known as the Balance and Transaction Reporting Standard (BTRS) in the first quarter of 2012.
BTRS "is a major standard that will impact corporations" says David Repking, senior product manager at J.P. Morgan Treasury Services, who chaired the X9 Codes Working Group.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
