CBI S.c.p.a. and SEPA

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Insights
 
 
 
 

Consorzio CBI, aside from participating in the most important national and international work groups (UN/CEFACT TBG 5, SEG, CEN, ISO 20022 Registration Management Group, EPC Standards Task Force and others), has, together with other institutions/associations, taken part in the "National Committee for Migration to SEPA", overseen by the Italian Banking Association and the Bank of Italy and in the role of providing guidance and monitoring.

On account of its active role on the international scene, the CBI circuit chose XML as the reference standard for the transmission of service requests on its network, even before the EPC specified the adoption of UNIFI (ISO 20022) XML standards for interbank operations and recommended the use of that standard in customer-to-bank transactions. This allows the CBI to support the standards defined by the EPC.

Italian enterprises, through their representative bodies, have been involved in the work of the National Committee for Migration to SEPA, through the SEPA Consultation Forum. The forum recognised the particularly important role played by Consorzio CBI ever since it was an Association for the CBI as it is potentially able to create a suitable environment for the realisation of evolved AOS, which are necessary to make SEPA truly beneficial for enterprises. The CBI provides enterprises with a link between the various collection and payment procedures in their relations with banks. 

 

Italian enterprises also recognise that the adoption of XML ISO 20022 standards in the CBI sphere is a valid decision that provides technically coherent solutions to market demand.

 

The Consortium has therefore supported and supports enterprises enabling the delivery of new XML Web services, thus encouraging their adoption also for other instruments not affected by legislation regarding migration to SEPA (e.g. foreign/urgent transfers and statements in XML format, including, in the latter case, intra-day mode).

 
 
 
 
 
 
 

CBI S.c.p.a. - Fiscal Code 97249640588

R.E.A. N. 1205568 - Registered Capital 920.474 euro i.v. - VAT Identification  08992631005