PPI provides EBICS interface for the future financial communication of the Holtzbrinck Group
PPI AG integrates the EBICS standard into Broadridge’s FinMApp integration solution. The Holtzbrinck Publishing Group will use the platform to exchange data with the five EBICS banks that are part of a network of more than 35 institutes worldwide.(PresseBox) (Hamburg, )
Ease of access
The EBICS protocol provides communication access to various financial institutions with regard to payments, cash management, and account analysis. The current version, 3.0, incorporates all EBICS dialects spoken in the European market. “This offers a new interface that has the potential to become a pan-European standard,” said Dr. Thorsten Völkel. PPI guarantees the conformity of all deployed systems with current technical and security-related standards. However, these systems have also be ready to accept and support older versions, so that they can be used in parallel.
Focus on financial communications
Through the association with Broadridge and the usage of the EBICS-standard, Holtzbrinck will be able to increase efficiency as well as flexibility and will be able to improve business control for its global corporate treasury operations. “Having previously relied on a proprietary solution, Broadridge is the right partner for us. Going live with EBICS with the Broadridge FinMApp is the first step to concentrate and automate our global bank communication and gain complete transparency into our payment processes,” said Jürgen Schweizer, Head of Treasury at Holtzbrinck Publishing Group.
FinMApp is used extensively in banking and capital markets, asset management and corporate treasury operations, delivering advanced transaction monitoring, management, translation and reporting on international payments to a user base of over 100 multinational organizations. It delivers a unique, unified workstream and consolidated business view that enables corporate and financial institutions to track cross-border payments in real time and receive status updates and notifications regarding applicable costs and charges.
“We are pleased to support Holtzbrinck Publishing Group and provide them with a central process that will streamline its cash and liquidity management,” said Andreas Günther, Managing Director of Data Control Solutions for Broadridge in Germany. “We look forward to delivering the benefits of a unified service to help Holtzbrinck monitor transaction statuses in real time, manage confirmation and settlement cut-off times, and reduce exposure to processing exceptions.”