In order to achieve interoperability at a cross-border level, the CBI COnsortium has undertaken several gap analysis tasks among the main international initiatives and SEPA standards: FINVOICE, UN CEFACT/TBG1 (Cross-Industry-Invoice), TWIST have been punctually analysed and compared to CBI standards to pursue the best alignment; multi-standard support, which is granted by a standardized message header and a flexible body suitable for any kind of processing, renders CBI standard really unique and capable of ensuring payments reconciliation and integration with financial services (e.g.: invoice financing based on the same data dictionary).
In order to achieve the maximum alignment to international issues of the banking sector, ACBI, thanks to its role of standardization body, takes part in several on going international initiatives (UN/CEFACT TBG 5, SEG, CEN, ISO 20022 Registration Management Group, etc.) The CBI Consortium is also member of the National Committee for Migration to SEPA, is presided over by the Bank of Italy and the Italian Bankers' Association (ABI). It aims to develop the project with all the stakeholders (firms, consumers, and government bodies).
The CBI standards have been defined in the Customer-to-Bank Area in compliance with ISO 20022 standards. In fact, EPC (European Payments Council) defines rules, procedures and standards to be adopted in the interbank area. These guidelines, to implement the SEPA messages, have been produced basing on the ISO 20022 standards. In the same way, regarding to Customer-to-Bank Area, EPC recommends use of XML-based ISO standards.
Italian corporates, in the context of Consultation Forum on purpose created by CBI Consortium, have declared their will to adopt new SEPA instruments provided that there won't be any kind of decrease in current service levels. In this direction, they have been asking for specific channel AOS whose test phase will be in charge of ACBI; this process is now at the stage of specification first release concerning CBI SEPA Credit Transfer, whose market launch has been planned in line with EPC provisions (as of now January 28th, 2008).
Definition of Additional Optional Services has left from a wide set of functionalities and has finally led to a short list of "potential" AOS; banks have already ensured their feasibility in the majority of cases (e.g..: E-pi, Advice delivered to Debtor and Creditor, extended Remittance information ISO compliant).
The CBI Consortium has also launched more in-depth analysis of services with an international dimension building on the new XML approach that is compliant with SEPA and further cross border SEPA requirements. The analysis is aimed at increasing efficiency of operations via the accounts held at foreign banks. Following this trend and thanks to innovative remote payment services, CBI 2 can represent for many aspects an important reference model to follow in drafting an international standardization protocol.
The general planning of the CBI Consortium activities for 2007-09 (See figure below) shows the effort afforded by the Association and the entire Italian banking system in order to attempt new business horizons and actively participate to the general harmonization plans shared on a community basis by major European banks and standardization organisms.
