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FinanceKey has been accepted to join the Common Global Implementation initiative simplifying corporate-to-bank implementations

FinanceKey is pleased to announce being a member of the Common Global Implementation – Market Practice (CGI-MP) initiative. FinanceKey CTO Macer Skeels joins CGI-MP working groups bringing a wealth of treasury & technology knowledge to the committees and valuable insights into multi-bank connectivity from corporate, bank and software vendor perspectives.

The CGI-MP brings together community expertise on corporate-to-bank implementations providing guidelines and best practices to ensure consistent and accurate use of the ISO 20022 messaging standard. At FinanceKey we see the industry-wide need to drive standardisation for corporate-to-bank connectivity to digitalise workflows, free-up time and save costs for both corporations & banks.

“One of FinanceKey’s company principles is “win x 5” – creating beneficial outcomes for customers, partners, end-users, employees and the company. Participating in the CGI-MP, which is a key enabler and delivers efficiencies for the entire industry, is one way we can achieve that” says Macer. The guidelines CGI-MP provides are an enabler for more interoperable finance operations, helping FinanceKey and other vendors to deliver better services for enterprise clients.

ISO 20022 is a global and open standard introduced in 2004 for digital messages within the finance industry. It covers a wide range of financial transactions, from payments and cash management to trading and foreign exchange. The message format has evolved over the years and is the basis of many other initiatives such as SEPA and the Fedwire Funds Service.

“I have implemented the ISO 20022 standard for several organisations and have seen first-hand the tangible benefits it brings. By joining the CGI-MP committee, I hope that FinanceKey can continue that legacy and allow me the opportunity to give something back to an industry that has given me so much during my career,” adds Macer.

FinanceKey is privileged to support CGI-MP in their working groups for Credit Transfer/Payment Status, Bank-to-Customer Reporting, Direct Debit, Electronic Bank Account Management (eBAM) and Bank Services Billing (BSB). Macer is a great asset for CGI working groups with his passion & effort to drive best practices in treasury, banking & technology.

More info on CGI-MP.

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