Tuesday, November 18, 2003

Microsoft is moving in on banks..

Finextra reports that Microsoft is pretty active in getting closer to banks.

Last month Microsoft has launched a new software solution that runs on its BizTalk 2004 integration server, supports all Swift messages and also includes a toolkit to help banks provide payment services that are closely aligned with corporate supply chains.

Microsoft has also announced it is participating in the RosettaNet Payment Milestone Programme, an initiative designed to drive the automation of payments from RosettaNet business processes. To back up its participation in the programme it has launched RosettaNet Payments Toolkit. The toolkit aims to provide a cost-effective way for firms to integrate the payment process quickly and easily into existing IT systems.

Furthermore, E-payment news reports that Bank One and Microsoft are to offer a cash management service, which will allow business owners to integrate their existing processes for managing payables and receivables with their banking services. The new service, known as Instant Cash Management Solutions, utilises the Great Plains software from Microsoft to connect Bank One customers internally and standardises the transmission of accounting information. The service also includes a positive-pay service to detect check fraud, as well as automated lockbox reporting for payments.

Finally, something that occured a little earlier: Microsoft has appointed Koen Van den Brande to the newly created role of retail banking strategist at its EMEA financial services division.