SWIFT, the Switzerland-based cooperative that provides banking communications, says its Electronic Bank Account Management (eBam) services are now live and available to all customers. EBam is intended to help companies that have many bank accounts streamline the management of those accounts. With eBam, chores like opening and closing accounts and reporting on accounts that are currently paper-based can be accomplished using standardized messages.
GTreasury, a treasury workstation provider in Lake Zurich, Ill., and Axletree Solutions, a SWIFT service bureau in North Brunswick, N.J., have formed a partnership to make Axletree's SWIFT connectivity offering available to GTreasury's customers. The companies say Axletree has already implemented SWIFT connectivity for one GTreasury corporate customer that had more than 50 banks in 30 countries.