What is the Way Forward for the BAI2 and BTRS?

Over recent years, the X9C BTRS Committee modernized BAI2 by revamping the Format Specification and Code Set, under a new name BTRS Version 3 (BTR3). The scope of that work was dictated by significant corporate comments from an initial AFP Survey in 2008. This new survey will take the current industry pulse to help prioritize Information Reporting projects for 2019. You can visit X9.org for more information and to see the work that has been accomplished.

The ANSI X9C Committee thanks you greatly for your engagement in this survey that will help ensure that the Information Reporting community is directly represented in the future Standards decisions.

Feel free to answer any or all of the questions, as each has an option to “skip”.

Question Title

* 1. What is your Company Classification?

Corporate

Treasury Workstation or ERP Provider

Third Party Financial Services Provider

FinTech Company

Technology Company

Financial Institution

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Other (please specify) or Comments

Question Title

* 2. What is your Role? (Select all that apply)

Treasurer or Cash Manager

Treasury/Financial Analyst

A/P Department or A/R Department

Monitor and/or Reconcile Transactions

Product Management

Technician

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Other (please specify) or Comments

Question Title

* 3. How do you get Information Reporting today? (Select all that apply)

Manual Download from e-banking platform/internet portal

Automated File Transmission from my bank(s)

API

From another department within my company

We get a file from each bank separately

My concentration banks aggregates accounts from all my banks into one file

Does not apply

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Other (please specify) or Comments

Question Title

* 4. What payment file and reporting formats do you use? (Select all that apply)

Payments: ISO pain

Payments: SWIFT MT

Payments: ANSI EDI

Payments: NACHA

Payments: Other _____________

Reporting: BAI2

Reporting: BTRS (BTR3)

Reporting: ISO camt

Reporting: SWIFT MT

Reporting: ANSI EDI

Reporting: CSV

Reporting: Other _______________

Does not apply

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If you selected "Payments: Other" or "Reporting: Other" please specify.

Question Title

* 5. What are your primary uses of Information Reporting data usages? (Select all that apply)

Cash Positioning

Liquidity Management

Controlled Disbursement Funding

Bank Account Reconciliation

Payment Monitoring/Reconcilement

Receivables Reconcilement

Book to General Ledger

Does not apply

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Other (please specify) or Comments

Question Title

* 6. What is the name of the treasury workstation you use?

Homegrown

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Other (please specify) or Comments

Question Title

* 7. How frequent do you receive information? (Select all that apply)

Prior Day: We reconcile daily

Prior Day: We reconcile weekly/monthly

Current Day: Multiple times daily

Current Day: As close to real-time as possible

Does not apply

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Why is that schedule followed?

Question Title

* 8. How do you use the Information Reporting data? (Select all that apply)

Automated feed into a treasury workstation, ERP systems or other back office applications

Manually upload to a treasury workstation or ERP

Convert it into a different format using middleware

Re-key it into a spreadsheet

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Other (please specify) or Comments

Question Title

* 9. How do you handle transaction text in Record 88? (Select all that apply)

Simply report it together as a string of text, as we receive it

Parse specific fields based on rules

Try to normalize it across similar transaction types

Many transactions lack the structure or data richness to apply automated rules

Try to automate parsing, but many transactions are exceptions and manually reviewed

Does not apply

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Other (please specify) or Comments

Question Title

* 10. List the top 3 challenges you face with the current Information Reporting format and process.

Question Title

* 11. What are the top 3 Information Reporting Improvements you need?

Question Title

* 12. What are your Information Reporting trends in the next 5 years? (Select all that apply)

Will remain on our current format and process

Will update to BTRS across all bank relationships

Will migrate to ISO camt

Will migrate to API

Will move toward real-time reporting

Other (please specify) or Comments

Question Title

* 13. With faster corporate payments like Real Time Payments and consumer payments, like Zelle, do you have a need for real-time Information reporting on weekends, or outside of business hours?

Yes

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If you answered yes, please elaborate:

Question Title

* 14. How can the X9 BTRS Committee help clients and banks prepare to migrate to ISO camt?

Assist my bank(s) to offer it

Assist my treasury workstation provider to support it

Provide online training classes

Publicize the business case

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Other (please specify) or Comments

Question Title

* 15. Should X9 explore creating standards for some common pain-points? (Select all that apply)

Multi-bank (bank account data exchange between banks)

Interoperability with ISO camt & SWIFT MT

Format of the Standalone Remittance for Real-time Payments (The Clearing House)

Normalization of Record 88 text across payment types (tags, order and content)

SWIFT GPI - on demand messaging with transaction status and tracking (placement of UETR, that also includes payment 'lifting' fees) - how should this report in BAI2/BTRS

Reporting at the ACH Origination payment and the Lockbox check and invoice detail level

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Other (please specify) or Comments

Question Title

* 16. How do you classify your interest in upgrading to BTRS (the next version of BAI)?

We already use/support the BTRS specification (BTR3)

We need to better understand BTRS and its benefits

We have requested BTRS, but it is not available

We have a project to upgrade to BTRS

We have no current plans to implement

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Other (please specify) or Comments

Question Title

* 17. If you have “no current plans to implement”, why not?

My bank(s) do not offer it

My treasury workstation does not support it

No business benefit over BAI2

Not cost-effective

Do not see a reason to convert

Do not have the technical resources to make the change

Plan to move to ISO next

Skip

Other (please specify) or Comments

Question Title

* 18. Given the revised BTRS Guides and Codes sets (see X9.org), what are your pain-points with the specification? (Select all that apply)

The BTRS Guide is still unclear and/or incomplete

Improvements to the Code set are still needed

Provide structure/specifications to Record 88

Standardize the tags and descriptions like XML—make the information machine and human readable

Do not have resources to investigate new format

Skip

Other (please specify) or Comments

Question Title

* 19. How do classify your interest in upgrading to BTRS?

We already use/support the BTR3 specification

We need to better understand BTRS and its benefits

We have requested BTRS, but it is not available

We have a project to upgrade to BTR3

We have no current plans to implement

Does not apply

Other (please specify) or Comments

Question Title

* 20. Given the revised BTRS Guides and Codes sets, what are your pain-points with the specification? (Select all that apply)

The BTRS Guide is still unclear and/or incomplete

Improvements to the Code set are still needed

Provide structure/specifications to Record 88

Standardize the tags and descriptions like XML—make the information machine and human readable

Does not apply

Other (please specify) or Comments

Question Title

* 21. What is the top Information Reporting improvement you need?

Reporting at the ACH Origination payment and the Lockbox check and invoice detail level

Normalization of Record 88 text across payment types (tags, order and content)

Other (please specify) or Comments

Question Title

* 22. Any final thoughts, suggestions, or feedback?

Question Title

* 23. May we contact you?

Name

Email Address