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Articles

Bank Services Billing Standards Group Shares Latest Update

  • By Staff Writers
  • Published: 2/10/2016

The latest BSB Newsletter is out, covering bank services billing standard market adoption—ISO 20022, TWIST and AFP Global Service Codes.

Among the highlights:

  • 16 major banks now provide billing statements in the BSB format.
  • 13 financial systems support BSB for bank billers and corporate bill recipients.
  • BSB can be used with bank accounts held in more than 100 countries based on the banks.
  • AFP Global Service Codes is enjoying growing use with more than 50 subscribers including banks and application vendors.

Corporate treasury and finance professionals in a survey said they use the BSB format to take advantage of reduced costs, detailed information on bank transaction services usage, and accounting for unit consumption of banking services.

Subscriber to the BSB Newsletter here. Participate in a BSB survey here.

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