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Challenges of Corporate-to-Bank Connectivity

Many organizations transmit data with their banks and other financial counterparties using separate, one-to-one direct connections. There are many different direct connectivity options such as online web portals, dedicated host-to-host connectivity, leased communications lines, EDI networks or fax.

But as the number of dedicated, one-to-one interfaces increases, the challenges of corporate to bank connectivity multiply:

Cost

  • Estimated annual cost of $15-35,000 for each interface
  • Less staff availability for other projects

Standards Complexity

  • Inflexible file format options and lack of ERP integration (SAP, Oracle)
  • Limited Internet protocol support for AS2, MQ, HTTPS, SFTP
  • Rigid security policies (encryption, firewalls, audits)

Operational Constraints

  • Difficult to easily switch or add banking relationships
  • Performance and capacity constraints
  • Lengthy implementation times
  • Limited knowledge of corporate ERP
  • Varying capabilities and support processes across different geographic regions

Lack of Integrated Interfaces

  • Reconciliation challenges
  • Limited visibility to cash and payment status
  • Disparate interfaces per bank product line (Cash, FX, Trade Finance, Securities Services )

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