EBICS – Opportunities to internationalise

spherical puzzle with missing piecesThomas Stosberg, GTB Product Management, Deutsche Bank AG

After Germany and France, Switzerland is the third country to join the EBICS community, taking the internationalisation of EBICS a step further. Has EBICS got the potential to become an international standard and is this in the interest of customers and banks? Continue reading

“EBICS as a service” – An operating model for small and medium-sized financial institutions

Switzerland Finance ConceptIt is actually undisputed that EBICS will establish itself as a transaction banking protocol in Switzerland. Major banks and larger cantonal banks already offer EBICS or are in the process of implementing an EBICS interface for their business customers. The next step would be a shared-use “EBICS as a service” platform, for which there is currently no provider.

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Initial difficulties in onboarding Swiss EBICS customers

Update EBICS-Client-SoftwareIn earlier posts we reported that the spread of EBICS in Switzerland has already begun. The first credit institutions have since started to offer the multibank-capable standard, with others still in negotiations. The focus is now slowly shifting towards corporate clients, who would benefit from the new interfaces. More precisely, the focus is now on the EBICS software to be installed on the client’s end.

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EBICS Working Group Meeting: Switzerland secures new momentum in EBICS

Meeting EBICS Working Group_BlogThe Swiss EBICS Working Group intends to put forward its ideas, particularly on order types, in September. This was one of the main results of the EBICS Working Group meeting held on 28 August. For the first time since the start of the German-French EBICS cooperation, the event was held in Switzerland. The reason is that Switzerland is preparing for its participation in the EBICS community. At the Hotel Renaissance in Zurich, within walking distance of the Swiss applicant SIX Interbank Clearing, experts from each of the three countries discussed the current situation in Switzerland and the planned extension of the new payment transaction standard. Continue reading

The Bircher muesli of keys

Cereal timeAs was already mentioned on a blog post on 25/07/14, “EBICS has arrived in Switzerland”, the Swiss financial centres are moving in on the EBICS community of the country’s two biggest neighbours, France and Germany. The perception of EBICS in France has proved to be somewhat different than in Germany, while Swiss stakeholders are unsure about which variant would be the best for them. In terms of order types, the trend is currently leaning towards France, i.e. FUL/FDL in conjunction with the use of format parameters, instead of the multitude of order types in Germany. But when it comes to the application of electronic signatures, things get a little more complicated. Precisely how should these be implemented for customers?

The German variant, featuring automatic key pair generation for encryption (E002), authentication (X002) and for signatures (A005/A006), is currently the variant in use in Switzerland, while the German VEU system (distributed digital signature) is in the first planning stages. Continue reading

EBICS has arrived in Switzerland

Swiss bank notes

Foto: © pagomenos – Fotolia.com

Let us firstly take a look back at the seventh Petersberg Electronic Banking Forum held on 10 November 2011. Christian Schwinghammer from SIX Interbank Clearing Switzerland gives a presentation there on the topic “EBICS goes Europe – where is Switzerland?”. Schwinghammer, an expert in the Swiss banking arena, was already rather confident that the standard will be implemented across all the Swiss financial institutions, particularly with two of the biggest heavyweights, UBS and Credit Suisse, already working with the EBICS communications channel.

However, the rapprochement often announced between the EBICS organisation and the Swiss delegates has been repeatedly delayed and has been progressing at glacial pace. Amid intensive tax dispute with Europe (on flat-rate withholding tax) and the US (FATCA), the topic of EBICS has taken a back seat on the part of the bank managers. Continue reading

The Luzerner Kantonalbank invests in EBICS

Switzerland Lucerne

Foto: © kiska_murka – fotolia.com

For the first time, EBICS is now fully supported by a Swiss cantonal bank. By using EBICS, the Luzerner Kantonalbank (LUKB) causes a stir in Switzerland. EBICS should be going live at LUKB in 2014. I am pleased to see that EBICS has expanded further and has now clearly accelerated in Switzerland. In this new change of pace, LUKB has acted as the prime mover.

From my point of view, Switzerland has adopted the system so quickly because of the following reasons:

1. EBICS uses the internet as a mode of communication which, in principle, is available at every company, meaning lower transfer costs for businesses. Moreover, EBICS products can be acquired in a relatively large market, which again offers a better price/performance ratio. Continue reading