The bills that banks send to companies are complicated—socomplicated that various vendors offer software for checking bankstatements to see whether the fees a company was charged are inline with its agreement with the bank. But companies can't use thatsoftware unless their banks provide them with electronicstatements, and getting such statements from many overseas banks isstill a struggle.

In a session at the 2015 Association for Financial Professionalsconference, consulting firm Redbridge Debt & Treasury Advisorysurveyed attendees about bank e-billing. Of the 48 surveyparticipants who use international banks, just 16% receiveelectronic statements that follow the TWIST BSB global bank-billingstandard.

But those corporate treasury practitioners are interested ingetting standardized electronic statements: 51.4% of those surveyedsaid that whether an international bank made such a statementavailable would definitely influence their decision on which bankto use, while another 37.8% said it would probably influence theirdecision.

U.S. Banks Lead the Way in E-Billing

In the United States, it's common for companies to get theirbank bills in an electronic format.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.