What is EBICS?

We read an interesting overview of EBICS, which the author on SEPA for Corporates calls “the most boring article on EBICS” – we’ll let you decide for yourselves. Here is the brief on these topics:

1. EBICS is the Electronic Banking Internet Communication Standard and is widely used in Germany;
2. EBICS History:
   – 2003 EBICS deployments start in Germany;
   – 2008 EBICS is mandatory for banks in Germany;
   – 2011 French banks are required to complete their standard to EBICS;
   – 2015 Switzerland joins EBICS;
   – 2020 Austria joins EBICS;
3. EBICS is a solution that offers a single, common, and open standard for corporates to connect with ALL of their banks in Austria, France, Germany, and Switzerland;
4. How is EBICS set up? Your bank guides and supports you with your EBICS implementation;
5. What File Formats does EBICS Support? SWIFT MT messages (MT101 and MT940) and ISO20022 XML.

Source SEPA for Corporates

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