December 2017 edition
Harmonization of payments
Editorial by David Wiesner, RBA Holding Ltd
One never notices what has been done; one can only see what remains to be done.
From “technical switch” to the new eBill
Alain Schmid, Head Payment Services, talks about the motives behind Credit Suisse's decision to take part as a pilot bank for the eBill and the SIX Paynet Platform.
The harmonization runs on goodwill but is not a priority
Swiss payment traffic proves itself as highly functional, according to organizations and companies with large payment volumes. Although this is encouraging, there is a problem. Those who are satisfied place little value on change. The harmonization of Swiss payments based on ISO 20022 is a change – and suffers precisely from this dilemma.
The international toy brick standard
ISO 20022 – Finally a standard for the entire world! All software will function with every bank on this planet, because each of the thousands of financial institutions offers exactly the same customer interface for electronic payment instructions. And every financial institution can exchange data from any clearing system in any country without any additional effort and expense. Is that really the case? An analogy with toy brick houses sheds the right light on ISO 20022.
Cyber security throughout the international banking community
The growing threat of cyberattacks has never been more pressing. Recent incidents of payment fraud in financial institutions’ local environments demonstrate the necessity for industry-wide collaboration to fight against these threats.
Security for corporate customers with EBICS
Digitalization, automation, new technologies and processes constantly lead to complex challenges among the payments participants. It is a matter of finding simple, and at the same time, secure ways and means, particularly when it comes to the relationship between the customer and the bank. EBICS helps provide market solutions that offer communication channels with the highest security.