Product Factsheet

Bank Statement Management

Globally Standardized & Simplified Bank Statement Management

In a complex corporate environment with dozens of different financial institutions and hundreds of different bank accounts, collecting account statements can be challenging. This is especially true for multinational organizations that are not SWIFT members. The manual collection of account statements results in excessive bureaucracy, inefficiency, a lack of a comprehensive financial overview and – as a result – in an operational risk.

How to overcome this dilemma?

With our bank statement management service, TIS has developed a solution for all organizations to automate their global bank statement collection and aggregation workflows. The statements are transmitted end-to-end straight through the TIS platform for direct reporting within client TMSs or ERPs. Today, this solution is capable of managing FIN messages (e.g. MT940, MT942) and ISO 20022 formats (CAMT), as well as other regional or bank-specific standards. Besides the already named advantages of global cash visibility, flexibility, and security, the onboarding process with our highly skilled support staff can be accomplished in a streamlined fashion.

Not only does TIS help connect to all of your required banks and bank channels (SWIFT, EBICS, SFTP, etc.), but our we also manage message format compatibility and translation as a standard service. This means that regardless of what unique formats your banks or back-office systems require, TIS can ensure the smooth and seamless transmission of all statements globally so that a lack of compatibility never hinders visibility or automation.

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