EBICS / SWIFT Software for Secure Banking Communication

At a time when financial fraud and fraud attempts are multiplying and becoming increasingly insidious, virtual financial transactions must, more than ever, comply with procedural frameworks that convey trust and rigor at both ends of the transaction chain.

Fortunately, E-Control Communication accelerates, simplifies, and secures inter-company transactions, radically transforming the user experience.

With the advent of digital technology, all industrial sectors have been impacted by changes linked to new uses and the technologies that have rapidly developed to support them.

• The banking sector has not been spared by these new trends, particularly in the dematerialization of payment methods. Paper has almost disappeared, greatly benefiting companies, which have gained visibility, productivity, and agility as a result.
• These companies have also been able to create new high-value-added roles, particularly in financial management. As a result, they have gained significant competitive advantages through better forecasting and better decision-making regarding their investments and strategic developments.
• But new models mean new risks. And when it comes to finance — the proverbial « sinews of war » — no company can afford to neglect the security aspects of transactions, at the risk of jeopardizing its financial health as well as its credibility and reliability.
• Innovative technological solutions that comply with regulatory protocols have thus emerged to harmonize, control, and secure payment flows between banks and companies of all sizes.

In addition to implementing employee training programs on fraud risks, companies are strongly advised to equip themselves with a dedicated software solution to strengthen the security of their transactions.

The ideal approach is to opt for a single platform that centralizes all of a company's banking communication, including communication with subsidiaries for multi-site companies. As a next-generation, web-based platform, this ideal solution must :

• Offer an uncompromising security module for all types of financial flows and include features for detecting accounting anomalies (incorrect amount, unknown recipient, etc.)
• Be easy to install and particularly intuitive for business users
• Integrate easily and complementarily with existing financial solutions
• Offer high-performance automation services for payroll payments, bank statement integration, etc.
• Be multi-bank, enabling simple and secure communication with all banking institutions in the company's extended network
• Be multi-format to support all national and international protocols (EBICS TS, SWIFT, FTP), manage SEPA mandates, etc.
• Provide a comprehensive, real-time view of the company's financial assets for optimal preventive cash management

For a company's accountant, the treasury manager, the payroll manager, and even the CFO, having access to intelligent, reliable, real-time, centralized, and fully secure data is a significant asset in terms of visibility, control, and performance.

• But the most important issue behind optimal management of the security of data exchanged with third parties is the trust a company inspires in its partners, customers, and suppliers.
• A company's reputation in the markets it aims to conquer can quickly be damaged by a lack of good practices in banking communication.
• Since simple solutions exist, suited to companies of every size regardless of their financial activity volume and across all sectors, it would be a shame not to explore their scope and benefits.