Pilot testing was carried out by BNY Mellon Treasury Services and SWIFT in collaboration with three global corporate users, General Electric (GE), Swiss Re, and a major multinational manufacturer.
According to BNY Mellon, the pilot demonstrated the ability of SWIFT’s eBAM solution to provide corporate users with a broad range of automated bank account management services, including account opening, closing and maintenance.
Message origination and exchange was facilitated through the use of an interface provided by Wall Street Systems.
BNY Mellon Treasury Services managing director and head of global product management and strategic development Al Briand said that the stature of pilot program’s participants indicates how important account management automation has become to SWIFT’s corporate users.
"The pilot’s success validates our confidence in a solution that reflects SWIFT’s strong traditions of standardization and consultancy," Briand said.
