Multi-Bank Reporting

Multi-bank reporting is the gathering of balance and transaction information from every bank a company uses into a single place and format. A group with accounts at many banks in several countries receives statements in different layouts and at different times. Multi-bank reporting standardises them, usually by collecting prior-day and intraday statements through SWIFT, host-to-host links, the German-origin EBICS protocol or bank APIs, in formats such as MT940 and MT942, the ISO 20022 camt.052 and camt.053 messages, or the US BAI2 format. The data then flows into a treasury management system or ERP, where it supports daily cash positioning, forecasting and bank reconciliation. It is the reporting half of multi-bank connectivity, whose other half is sending payment instructions. Also see cash visibility.