Rewe Group To Use Standardized eBAM

In times when finance and treasury teams increasingly work from home, digital and paperless processes become more important than ever before. This is equally true for bank account management. Banks increasingly offer electronic messaging to digitize and accelerate processes, however, usually this is only realized on a bilateral level with individual clients.

In a joint project with Serrala, a global financial automation and B2B payments software company, Rewe Group, together with ING, managed to realize a fully standardized electronic messaging which enables it to digitally interact with multiple banks. To this end, Rewe Group implemented the Serrala solution FS² eBAM which offers multilateral electronic messaging as a standard.

Instead of connecting every bank individually, Rewe Group benefits from standardized transfer protocols such as EBICS and SWIFT that are included in the solution enabling the company to connect to any bank rapidly. The corresponding mappings for ISO20022 ACMT-XML formats are pre-set and can be implemented easily with any eBAM ready bank worldwide. The mappings, however, also offer the flexibility to adapt them to customer or bank-specific requirements, within the ISO 20022 message formats. The electronic messaging is not limited to exchanging data for opening, closing, or changing bank accounts, it is equally possible to communicate mandate information efficiently, quickly, and securely.

In a first step, Rewe Group is implementing eBAM with ING, who contributed to this solution, driven by its ambition to provide digital services to their clients.