Euro-Asian EDI Adaptation (EA2)

• Presentation of EA2 Project
• Partners
• Point 1 - Expert knowledge and skill transfer
• Point 2 - Legislation & Institutional framework
• Point 3 - Harmonisation and Interoperability
• Point 4 - Security
• Point 5 - Standard & Quality
• Point 6 - Administrations
• Point 7 - Company and Customer

• Point 8 - Financial Institutions

 

Banks and financial institutions are key players on the modern economic scene.

Any financial transaction between a customer and a supplier triggers:

• information flows;
• "physical", flows - either tangible or intangible;
• financial flows.

A financial transaction was originally reliant on a tangible support. The first step towards dematerialisation was made possible when banks started developing trading activities. The tangible supports were cast aside and replaced by a series of handwritten slips exchanged between the customer, supplier and their banks. The communication of information enabling bank account management systems to update their financial records in an increasingly automated way has now become largely dematerialised in the economies of developed countries.

The main flows concerned are exchanged between:

• Banks - Companies (Insurance)
• Banks - Administration
• Banks - Banks

As a result, the requirements of insurance industry activities, such as financial transactions (guarantees on import/export operations for instance) can now be catered for.

 

Dematerialisation and a relationship built on confidence

The dematerialisation of financial exchanges is dependent upon a relationship built on confidence between the payer, the payee and their banks. Such confidence must also extend to the means and systems of payment. The banks consequently play a major role in the creation of a highly-reliable and well-protected exchange supports. The means and techniques used by the banking industry to ensure exchange security and reliability can be considered exemplary.

The dematerialisation of exchanges of information between banks and companies, banks and administrations, and banks and banks, is a decisive factor in the transition towards the digital economy and constitutes one of the main sources of productivity within the said economy The value-added content of such integration will be all the higher if it is given due consideration at the outset of a programme to develop a harmonised national climate of dematerialisation.

 

Dematerialisation of financial flows

The fact that EA2 is geared to the dematerialisation of financial flows and banking industry considerations will make it possible to:

• identify exemplary practices that can be applied to other major domains of exchange and pinpoint various frameworks that can be used for multiple applications;
• maximise the benefits of integrating financial flows and commercial flows. In order to derive maximum benefit from dematerialisation, all flows resulting from the same economic transaction will necessarily have to be dematerialised coherently;
• achieve major productivity gains for private and public economic players,
• by simplifying the relationship between their output and outlay;
• shortening payment periods;
• integrate strategic flows relative to all areas of economic activity into EA2: foreign trade transactions, recovery of corporate taxation and national insurance and other social contributions, signing and execution of public sector contracts etc.

 

EDIFRANCE - © 2008 - Mentions légales