by Dan Gill, CTP, Director of Corporate Systems, The Weiland Financial Group, Inc.
Bank Account Management (BAM) and communicating with banks is a major challenge faced by every corporation with bank accounts. Automated programmes along with SWIFT eBAM stand poised to change the way we talk with our banks, revolutionising bank account management in much the same way email changed the concept of mail forever.
Corporate banking relationships have never been more complex than they are today. As corporations struggle with the idea of reducing their bank account inventory while simultaneously managing counterparty risk and meeting controls requirements, the concept of Bank Account Management (BAM) has been brought to the forefront of the international treasury community.
Automated Bank Account Management software applications help by providing a highly structured and controlled methodology for a company to manage its bank accounts.