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Practices for account opening and management, at both corporates and banks, are still very manual and paper-based, creating an inefficient, error-prone environment. SWIFT and a small group of leading banks, corporates and IT vendors have been working to help address the problem through the development of electronic bank account management (EBAM) standards. Finextra and Pegasystems surveyed corporate treasuries and banks worldwide to establish what the current pain points are around account management, what awareness there is of EBAM, what hurdles there are to greater standardisation and improvement, and what benefits are up for grabs. This report summarises the findings and highlights areas of opportunities for banks to help simplify requirements for corporate customers while also delivering the speed of service they desperately require.

Finextra and Pegasystems surveyed corporate treasuries and banks worldwide to establish what the current pain points are around account management, what awareness there is of EBAM, what hurdles there are to greater standardisation and improvement, and what benefits are up for grabs.

This report summarises the findings and highlights areas of opportunities for banks to help simplify requirements for corporate customers while also delivering the speed of service they desperately require.