Common Global Implementation - Standardization of formats and procedures for international Transaction Banking

Use MultiCash to benefit from the global e-banking harmonisation of the CGI initiative

The initiative "Common Global Implementation - Market Practice" (CGI-MP) aims to establish a uniform message format for transaction banking for banks worldwide. In practical terms, new international format standards for use in corporate banking business are being defined using the ISO XML-20022 specification. The CGI working groups, with active participants from banks, banking associations, corporates and solution providers, are assigned specific tasks. In addition to defining new, generic standards for a defined business area, these working groups also aim to promote their take up in the market place.

As a member of the CGI initiative, we are a driving force in the development of the new formats and consistently implement the agreements reached in the working groups in our corporate and banking solutions. As part of this process, we have set up our own MultiCash CGI working group, comprising members of our corporate and banking user community in order to consolidate our expertise. This MultiCash working group is composed of various task forces, which mirror the CGI-MP Working Groups, helping to design of the ISO 20022 standard and shape its implementation in practice.

Clearly, CGI will only add value to all parties involved if the standards are embedded in functioning solutions. For MultiCash, we achieve this by ensuring a timely and consistent integration of the CGI formats and validations in our applications, which we design and dry run with members of our cross-sector task forces. The modular design of MultiCash allows implementation for the areas covered by the various CGI working groups to be made within the applicable modules. This allows corporates and banks to mix and match the CGI functionality to match their individual requirements.

The standard formats defined in the CGI Working Groups (CGI-WG) and fine-tuned for day-to-day operations by the MultiCash working groups are implemented in the MultiCash product range as follows:

The CGI-WG 1 deals with the topic Payment and Payment Status Report:
This is realized in MultiCash within a dedicated CGI payment module, supporting payments in pain.001 format and a Payment Status Reporting module, which allows messages in pain.002 format to be visualized and reconciled against the original transactions.

The CGI-WG 2 deals with the processing of balances and transaction reporting in camt.05x format (Bank to Customer Reporting):
MultiCash supports this standard in cash management modules, including options for advanced and premium cash management. For reports and export to third-party applications, account information in the camt.052/053/054 format can be consolidated with the MT940 and MT942 to ensure that a finance manager has a full overview of the financial status at a glance.

CGI-WG 3 is dedicated to direct debit payments in pain.008 format:
The MultiCash SEPA module provides full support for direct debits including a SEPA mandate management system, maps the entire lifecycle of a mandate and allows the user to send reclassification letters and pre-notifications to the debtors.

The CGI-WG 4 deals with electronic Bank Account Management (eBAM):
A MultiCash eBAM module supports the complete process of account opening and closing as well as power of attorney management, in close interaction between the corporate and the bank. The standard acmt messages form the basis for this.

The CGI-WG 5 (BSB-Bank Service Billing) is dedicated to the topic of bank charges, using the camt.086 format:
The MultiCash BSB module enables the completely electronic processing and automatic checking of the content of bank fee statements as well as their recognition under tax law as electronic invoices.

Your benefits from CGI with MultiCash at a glance

  • Improved international footprint based on uniform formats for corporates and banks worldwide
  • Fast implementation, as little or no adaptation on the ERP systems is needed
  • Greater efficiency by means of uniform processing and authorization rules
  • Greater transparency, as all customers and banks can be consolidated to one central system
  • More functional diversity, as additional bank services can be easily integrated