Design And Implementation Of Electronic Bank Account Management System Based On ISO20022

The English short name for Electronic Bank Account Management is eBAM. It is a platformmanaging bank account at cooperation side. In daily life there are more and more businesstransactions between enterprise and bank, such as: open account, change account information,close account and so on. The owner of accounts in enterprise (usually is teller or treasurer) startsa request for changing account basic information. Until request has been approved by approvers,he has to go to bank counter manually or sending fax or having phone call to deal with kinds ofbusiness of account related. To improve the inefficient situation, eBAM system comes up with anew solution for Bank Account Management. It doesn’t need any manual effort to achieve thedaily business above.Currently the bank account management is based on paper and without any effectiveinstitutions to follow. In such kind of process it is very inefficient and expensive for moving on.Furthermore, it is also quite easy for people making mistakes. So in this business domain area, akind of software system must be required to extricate the people from their complex work.Furthermore, the tellers need a software platform to manage the existing accounts which belongsto various banks. Each bank has its own system with its own standard to follow with. It is anactual problem that how to communicate with banks via centralized solution.Lately ISO (International Organization for Standardization) came up with ISO20022messaging standard to unite the message format. It made out the same standard for banks andcorporations to follow. EBAM system to be as the account management platform sets up astandard process and it can generate ISO20022messages which should be a wonderful solutionfor exiting issue on account management domain. First of all this paper analyzes the problems we’re facing and establishes the meaning ofeBAM system. It summarizes some important points. Also, these points are the source of usecases. They are: financial institution maintenance, template maintenance, business user definition,open account, modify account, apply mandate, change signer, close account. The thesis makesout the boundary to develop.Second, this paper expounds that eBAM consists of account management, workflow,messaging and report service. It introduces the next generation of messaging–ISO20022andthen it comes up with the design and implementation.Finally, for ensuring integrity when transporting messages, this paper comes up with thesolution. It expounds eBAM how to integrate the technology–next generation solution on themessaging security. It includes: the components of3Skey, the concept of digital signing module,the implementation of digital signing on message with attachment. So user can send messages tomultiple banks only using one token. There is no need to take care about the various solutions foreach banks.Author developed eBAM system in an actual project. eBAM system provides an effectiveprocess model and standard, reliable solution to make transaction more efficient, lower cost onboth corporations and banks. Meanwhile it provides one solution for corporations managing theiraccounts using next generation standard.