Weiland EBAM is BAWEB. Their offering is Bank Administrator with a shortened naming convention called BA. The WEB part of BAWEB refers to their offering which is deployed either via SaaS or on-premises by users. This solution moved over time from a client-server version, to the web via a Citrix connection to its current SaaS or on-premises delivery option. They have, by far, the longest running offer of a commercially available bank account management tool that we are aware. And, while they are coy with numbers, it is clear they have the most customers in this  space.

…see a sample screen of their eBAM messages log….

Weiland BAWEB eBAM Log

Messages or Conversations? Weiland likes to refer to the five distinct conversations rather than discuss the 15 message types. This view matches the ‘process orientation’ that corporations care about. While it is systematically important to know that the other party received the file you sent it , Weiland focuses on the conversation (Account opening for example which has a number of messages that support that conversation).

Requirements for the EBAM Takeoff. If only one person has a phone it is really a….paperweight. The value of a network requires a few things. Here is what EBAM needs:

• Participants (in this case corporations and banks), [Cautiously optimistic: corporations - good for a start; banks - more messages needed to be supported]
• Common language (EBAM messages), [Good - well positioned]
• a network (i.e. SWIFT, other proprietary network or direct connectivity) [Good - all available]
• System (a phone or in the case of EBAM, on the corporation side a system and process to manage accounts, signers, services, etc, and on the bank side a system and process to interact with other systems). [Yellow flag - few corporations are using a robust tool, no banks have integrated this connectivity fully]

EBAM is such a hot topic in treasury circles. SWIFT has done much work here. Vendors have done much of their heavy lifting too.  However, more work remains. Weiland adroitly reminds us that:

• banks have to perform the integration of these processes (or conversations) with their internal systems (account authority systems, DDA platform, etc.). Much work to do here.
• corporations need internal processes and a system to support effective account management. And, they need to be members of SWIFT or have another communication pipe to pass the SWIFT ISO20022 message to their bank partner.

We’ll post more information in a future blog entry and/or in our Treasury Update newsletter on the current status of bank readiness. It is interesting that of the banks that have been completing the tests, one has only used the account opening conversation and another has closed an account. More…many more…conversations are needed. Like a rocket, sufficient energy is necessary to generate momentum.

BAWEB Screenshots

The following screenshots give a peek into some select processes and capabilities that have been built into Weiland’s BAWEB offering.

• Dashboard Sample. This shows a sample of the customizable dashboard for BAWEB users. It highlights tasks that are driven off of their workflow management engine. It allows for graphically displaying pending work or exceptions that need to be addressed. And, in this sample, shows the secure messages that await action.

BAWEB Dashboard Sample

• EBAM Inbox. Shows the status of the externally oriented EBAM messages in BAWEB.

BAWEB EBAM Inbox Sample

• Graphical Wizards – Charts. This recently added features allows the data housed in BAWEB to be displayed graphically versus report/matrix only options. Perhaps giving rise to the ‘a picture is worth a thousand page report’ quote. The ability for relationships to be shown graphically is a powerful feature. Please note that it can display more than just accounts – legal entities – signers. It also has the ability to link banking services and funding methods.

BAWEB EBAM Graphical View-MainLevel

BAWEB EBAM Graphical View- 2nd Level

• Account Management Screenshot. This simply shows one option of an account entry screen and the related tables that are used for this sample customer using the SaaS option of BAWEB.

BAWEB EBAM Account Detail View

In conclusion, EBAM offers a set of conversations but requires that the participants be organized and ready to have those conversations. While some celebration may soon be in order with the first live-in-production EBAM message exchange, it should be accompanied with a ‘mission begun’ banner. Much work remains. It requires an internal process, plan and system in companies and in banks.

Strategic Treasurer is hosting a SWIFT Corporate Workshop in NYC on September 28th, 2010 and it will cover current topics such as EBAM. See www.swiftcorporateworkshop.com for more details or to register.

———————————————————————————————————————————————————-

A recent press release from IT2 (the treasury workstation vendor – TWS) provides some base information about IT2’s electronic bank account management (eBAM) offering. Press releases are, well, black text on a white background. We found a discussion to prove much more illuminating about what they have done and why it matters to Treasury groups. Here are the main points and what we think it means:

• Supports eBAM Standards Now. Of course they support the messages. However, their solution is ready and released as the v7.0 Feature Pack. This feature pack made it out the door at the end of Q2 this year. Some banks are ready. As of today, only test messages have been sent across the network. However, that will change soon. And, IT2 is ready.
• Process Mapping. IT2 has been known for their process maps. This tools shows the logical flow of data or transactions through the system in flow chart format. It doubles as a sort of self-documenting tool. The eBAM offering takes advantage of these maps as you can see from one of their provided screenshots.

• Account Audit -Integrated Processes. Rare but not unique in the world of TWS and other treasury automation, IT2 has ensured additional value in the area of bank account management (notice we didn’t say ebam – since there isn’t a SWIFT message for this). When accounts come into their system through balance reporting or other means a comparison against the account table is made. If the account is ‘new’ or not found in the existing database, IT2 takes that information and creates an alert (Request to Acknowledge). This allows for some automated discovery of accounts that are reported on by your banks but weren’t entered into your bank account inventory. This is a highly useful process/control support. If you don’t know all of your accounts…how can you know your total exposure…if you don’t know your total exposure how can….
• Transition Time -SWIFT or NOT. Years in the future we’ll tell our children (or grandchildren) about how we used to change signers and close bank accounts by sending paper documents. ‘Stop kidding grandpa’ they’ll say ‘who would do that’. Well, right now we are beginning the transition phase that will take years. Soon the first live eBAM transaction will occur. However, adoption will take some time. At present, there are a few handfuls of banks who have been testing the messages (i.e. Bank of America, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, JPMorgan, Standard Chartered…). And, not every company is a member of SWIFT yet. Accordingly, IT2 is able to send eBAM xml messages directly to banks in certain instances (for example, if the company is not yet a member of SWIFT but their bank can handle the files/process). Additionally, they will support the paper process for banks that are…well…waiting to see if this automation thing really catches on.
• Support Internal Requests. Since IT2 is client server software, they added their thin client version  (IT2 NET) some years back for wire requests, forecasting entry, etc. This allows the system to achieve better reach given the challenges of client server technology. They added the internal process steps to IT2 NET for 1. requesting bank accounts, 2. approving (locally) the request, and 3. support of local reporting. This shows solid understanding of the base business process of bank account management – and not just the part of the process between the company and the bank.

IT2 ebam management dashboard

In summary, a well-thought out offering delivered at an opportune time. Again, we see tremendous and growing interest in eBAM.

-c

There are a few interesting and a few parochial points about their offering that we’ll note. Please also note that they shared a few of the simple ‘form screenshots’ that we can reproduce here. They wouldn’t share any workflow images at this time, but, maybe we can coax those out of them at a later date closer to the launch.

• eBAM System
  • Supports all 15 XML eBAM messages
  • Able to send and receive these messages by leveraging their communication hub (– called Echos)  (when the banks are ready)
  • Output can be in XML or in a Custom PDF (for the banks that aren’t ready, or who won’t be ready for some time)
  • Is planned to work with all other TWS/TMS systems –this is in line with recent announcements at client summits regarding SunGard’s AvantGard development strategy whereby web based services such as eBAM will be made available in the “cloud” and can be accessed from any of their solutions (treasury and payments)
  • Financial messaging is managed between the treasury and payments solutions via the Echos platform which is a communication hub – the hub includes access to the SunGard SWIFT Service Bureau
• “Center of The Chessboard” Strategy
  • This application has been built from the ground up on their Infinity platform. While this is not the first SunGard application to be built from the ground up on this new platform, it is the first AvantGard application that enjoys this claim. (This is making good on their promises and overall strategy to occupy the “center of the chessboard” from a process ownership and technology basis).
  • Workflow management is part of base, out of the box offering. Configuration of workflows will be possible and this further advances their business process strategy and software/service delivery engine.
  

  Sungard eBAM Account Details (images used by permission)

• Acquisitions to Innovation?
  • Sungard Avantgard has long been known for acquiring firms and bringing them into their fold and them supporting them for…well…forever. We haven’t heard anyone accuse them of being innovators. However, with the release of Treasury XE (their cash TWS) and the pending release of eBAM, they seem to want to leverage some of their new technology tools and make some new toys for treasurers. But, let’s see a few more products delivered before we get ahead of ourselves.

While another eBAM offering is certainly noteworthy and interesting news, that is, in our opinion, the minor story here. We think that five years or so, the fact that SunGard began delivering on their new “center of the chessboard” strategy will prove to be the bigger and more important story.

Sungard eBAM Account List

-c

See related blog entries: Weiland Acquired, Wallstreet Systems Acquires Speranza

Weiland Financial Group

• Provides additional funding and resources of a larger organization as they grow the Account Analysis and Bank Account Management (eBAM) parts of their business. This is good timing – right when more investment is needed to further drive good growth as interest in (particularly) eBAM is accelerating.
• Strengthens the long-term plan for the firm as it appears to have well-positioned both Steve/Pat and their employees for long term growth and expansion before any questions about ‘what are they going to do with the company’ could create distraction.

OpenSolution

• Moves them into an increasingly stronger position in the corporate treasury space by acquiring a highly-respected firm who covers the Bank Billing (Account Analysis) and electronic Bank Account Management (eBAM).
• Captures a number of  intellectual leaders in the treasury technology space just as the business is heating up.

It is quite interesting that now the two main eBAM providers have been acquired within a three month period.  See TWS: Acquisition: Wallstreet Acquires Speranza for the last eBAM acquisition. This was not an overpopulated field and firms are rushing to develop offerings that can leverage the SWIFT messages that support eBAM.

-caj

Finextra

Forbes

Bob’s Guide

Readers  who have seen our classification of the TWS landscape note that WST falls into our “Cash TWS” vertical and that WSS sits in the rightmost vertical called “Enterprise TWS”. The middle vertical in our model is called “Cash and Risk TWS”. Sitting in this space most comfortably are Sungard’s Avantgard (AG) Integrity and IT2’s offering.  CityFinancials falls into this category as well. Their stated 50-75 clients are predominately located in Europe with some initial success in penetrating the North American market lately.

It will be quite interesting to hear and report:

• How their new plans fit with their previous ‘center of the chessboard’ strategy they were pursuing with WST.
• About their ability and plans to market the three TWS offerings and the trading-related platforms. How will they ensure the focus isn’t on the largest systems (WSS and trading-related)?
• It would be particularly good to hear the development strategies for WST and CityFinancials (to say nothing of the integration plans).

caj

Read the Finextra announcement.

B2B Payments Take A Big Leap Of Convenience

613/614

10:00 a.m. – 11:15 a.m.

The Payments Biz

At the end of 2010, a new era of B2B electronic payments will begin for banks and their corporate customers. That’s when the nation’s two wire transfer systems, CHIPS and Fedwire, will be able to include remittance information with a wire payment. For payments professionals, this change will rationalize the front end of the payments system by creating parity between the ACH and wire transfer in terms of convenience, ease of use, cost, efficiency, and environmental benefits. Panelists discuss the potentially significant impacts this development will have on all parties in the payments value chain. Topics include: opportunities for banks to embrace the wire remittance standard as it becomes effective at the end of 2010; potential impact to wire and ACH usage and volumes; steps banks, corporations, and vendors should take to prepare payments professionals to realize the benefits of the new standard; and best practices for implementing a comprehensive native electronic payments strategy.

Level: Advanced

Susan Boeri

Manager, Treasury Services, GE Corporate Treasury

Claudia Swendseid

Senior Vice President, Federal Reserve Bank of Minneapolis

Paul Trozzo

SVP, Product Group Manager, PNC Bank Treasury Management

Moderator: Rossana F. Salaris, AAP

Senior Vice President, The Clearing House

“Are we there yet?” call the kids from the back seat for the umpteenth time. “You can see it from here, it’s not far…just to the base of the mountain range” comes the increasingly more agitated response. Each adult silently wondering how come it seems like the end point magically stays at the same distance. And, will we have enough gas to get there without stopping to fill up…again?

Getting at data internally is really easy if you have never attempted it before. Really easy. Then, when you attempt to acquire it there is always ‘something you didn’t expect’ about it that makes getting good data elusive. Just like the hotel at the foot of the mountain range…elusive.

This is a blog entry and not a book on overcoming forecasting challenges. Accordingly, I’ll lay out some of the thorny issues about getting at data INTERNALLY, and mention some options. But, this isn’t going to be the exhaustive decision tree about solving all of your internal data needs. Hopefully this will get you thinking that it requires a bit more work than the simple diagram you drew on the whiteboard. You know, the one with the boxes of information sources that had the line running over to your treasury data repository, reporting tool/cube or treasury workstation? That simple line is nice for drawing, but it is really only the “Fallacy of the Line”. What does the line mean? Is every line we draw equivalent? A line can be the same size and length but mean different things:

The fallacy of the line

Here is a starter list of issues to get your heart racing and the stomach creating an overabundance of acid:

• All of the data is in SAP/Oracle (some wonderful ERP systems that was supposed to solve all of our data issues)?
  • Not everything is in the system.
  • There are multiple instances of the ERP.
  • We have multiple entities that are not on the same type of platform
  • The data is different because the data we need isn’t crucial for the other area to process/analyze things correctly.
  • Data sits is so many disparate systems
  • The data is in different formats.  Japanese Yen is listed as YEN, JPY, JPN, Y… The normalization of this data is either a huge project or is addressed via a formatting process or via associative tables.
  • Stuff isn’t in the system

“We would have been able to deliver this on time if we didn’t have such data problems. No one could have anticipated xxx, yyy and zzz.”

Here are some primary ways of getting at data and some strengths and weaknesses of these models:

• Manual Entry. Major items that primarily sit in someone’s head can be captured on a web form and included in a cashflow forecast. This requires relentless feedback and retraining when people move.
• Feed of Data. This method works great for the ‘static’ aspect of reporting, forecasting or executing transactions. The constancy of the process can work well. However, as soon as you need to do some analysis (what was the cause…and root cause of this variance) you can only dig into the data that you have captured.
• Connection. A live connection can interrogate the data either when needed or real time. Some methods can degrade performance. Other methods are non-intrusive. Connecting allows treasury to perform additional analysis and ask better questions more quickly.

Your treasury information design is crucial. And, your plan and approach to getting at data that resides within an organization is far harder to achieve than most people can imagine due to disparate systems, processes and business requirements of the data. Underestimating the effort means a lot of extra work and extra explaining.  It is possible to get at internal data and manage through the non-normalized information effectively. Run from those who have never done it, but draw a line between two boxes and say it is easy. They will be the first ones to offer up the excuse of ‘we didn’t expect the data to be this bad’.

/caj

• It took just over  two hours to run the complete upgrade (after uninstalling my anti-virus software – more on that in a moment).
• Recognize that two hours is a long time – but that is what they said it might take – and I have a ton of software on this machine.
• Once it ran through the process (rebooting along the way as Microsoft indicated it would) I was presented with essentially all of my stuff in a new operating system. It looked relatively close the Vista system with some minor changes.

What had to be ‘fixed’. Not everything worked perfectly right off. Here is what happened that needed to be fixed:

• Had to reinstall the Anti-virus to be able to connect to the outside world. We use a firewall that ENFORCES updated AV software (a good idea). Then, we had to install it again.  Then today, had to reinstall it again to get an outside internet connection.
  • Called our IT guy over to resolve the AV issue. After a few minute search on the AV site he performed a firmware update to our firewall to handle Win7 clients (this took a few minutes).
  • Later on, once again we couldn’t connect outside (after working for awhile). The AV site showed that the Microsoft Firewall was blocking access. Their firewall was working fine. Apparently two firewalls might be too much.  Disabled the extra firewall and it works great.
• Nothing

What seems neat or worked well:

• With a significant upgrade, they caution that you may need to have your software disks ready to reinstall. Besides the AV stuff, the aircard software ran its own install/change (of course we had to give it  permission). Everything else has worked as it did before.
• Printing, networking, backup services, etc.
• The speed of the system generally seems a bit faster. Though Vista for this configuration was always pretty fast.
• The mouse over options on the bottom are pretty effective for navigating – you see all 6 email files and can simply move to the image and you open that on your desktop
• They have a warning flag system if anything is not up to security standards (if you remove the AV – all of a sudden a red circle with an ‘X’ in the middle shows up saying – you don’t have an Anti-virus software…
• The extended desktop options for viewing multiple screens works even better than Vista.  Nice.

All in all a relatively painfree upgrade. Glad I went with Vista as it worked well. DELIGHTED  I went with Vista since upgrading from Vista to Win7 is a non-event.

-C

I am no software tester, but thought it would be useful to document the upgrade on my live laptop.

-C