Banks in Switzerland are working hard on projects to implement the harmonisation of Swiss payment transactions in accordance with ISO 20022. Software manufacturers and corporate customers demand opportunities to test the new payment formats. What they are looking for is an end-to-end testing scenario that optimally reflects real-life processing by the bank. Very few banks in Switzerland can offer this type of test. This is where EBICS can help.
Is it possible for a payment order that actually has to be authorised by two different persons in EBICS to be released by only one person? Yes, under certain circumstances this is possible. For certain contract constellations between the financial institution and the corporate customer, it is not possible to uniquely identify the acting person.
The rise of EBICS in Europe hardly needs to be demonstrated any longer. But what about its development outside the borders of the European Union? There is one continent that to me seems perfectly suited to the adoption of a modern, high-performing and universal protocol for final flow exchanges such as EBICS: Africa. To be more precise, Morocco is the first place I think of, for reasons explained below. Continue reading
Since 2014, the Luzerner Kantonalbank AG (LUKB) has offered the EBICS communication standard in Switzerland, thus positioning a comprehensive service for professional payment transactions on the market. After the successful introduction of EBICS, it’s now time for the next step: As the first financial institution on the Swiss financial market, from autumn 2015 the LUKB will begin with the pilot phase of the launch of the “distributed electronic signature” (VEU). Continue reading
EBICS itself provides useful order types for obtaining customer and subscriber information (note that not all manufacturers offer this consistently in their products). This is referring to, for example, order types HKD (call up customer data) and HTD (call up subscriber data). The major Swiss banks would like it to be possible to not only query this master data, but also manage and even change it oneself. Continue reading
A large proportion of the data that I get from a bank computer as a corporate client relates to an account. But how can I control, already at the point of access, which of my employees can obtain which bank statements for this data? Controls on the bank’s side can be helpful here. Continue reading
Since 1995, corporate customers in Germany have handled payment transactions securely with every bank via a standard product and an electronic signature.
Already in 2003, the enhancement of the DFÜ Agreement was initiated by an internet-based version This variant of the DFÜ procedure was called EBICS “Electronic Banking Internet Communication Standard”. With this extension, the German banking industry met the requirement of customers and institutes for internet-based solutions in electronic banking.
In the “EBICS – a European standard for mobile payments” series, we will examine the situation in France.
A mobile solution allowing all users to sign for transactions remotely – in compliance with the EBICS TS protocol – would satisfy the requirements of the increasing number of “nomadic” signatories who are hoping that mobile banking with EBICS will soon finally become a reality.
European inter-bank payment transactions move several trillion euros a day. This gigantic volume is processed bilaterally via national and European clearers such as TARGET2, STEP2 and SEPA-Clearer. The unobstructed flow of money is essential for the economy and for our entire way of life. For this reason, the IT systems involved are highly security-critical. Only the redundant use of the two transport protocols EBICS and SWIFT provides the necessary high-availability transport.
With all the developments currently taking place in mobile payments, it’s easy to get lost. New solution providers are almost sprouting like mushrooms and there’s a whole maze of technical standards. In a growing field of business, banks risk being left behind. Could a European standard such as EBICS be an answer?