When will banks deliver the promise of eBAM to corporates demanding it?
Today, Flux released a new white paper, "Corporates Go Wanting for eBAM from their Banks".
Electronic Bank Account Management (eBAM) allows banks to offer their corporates automated and standards-compliant services to electronically manage:
- Opening and closing banks accounts
- Adding and removing account signatories
- Changing spending limits for account signatories
- Obtaining account information and reports without manual intervention
But corporate treasurers are wondering: Why is delivering on the eBAM promise by their banks taking so long?
Flux's new eBAM white paper makes the business case for banks to offer eBAM services so the bank can retain — or gain — a competitive advantage over rival banks.
"Corporate treasurers are asking, 'Which banks have shown an interest in eBAM?' They're crying out for their banks to provide an eBAM service," stated Dave Sims, founder and CEO of Flux.