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Trivandrum, India Office

2nd floor, Thejaswini Building, Technopark
Thiruvananthapuram
Kerala
IN

Pittsburgh, USA Office

333 Technology drive, Suite 260Canonsburg,
Pittsburgh
PA
US

London, UK Office

2nd Floor, 20st. Dunstan’s Hill
London
GB

Singapore Office

Level 42, SunTec Tower Three, 8 TemasekBouelvard
Singapore
SG

Bangalore, India Office

Ground floor, Salarpuria Touchstone,Varthur Hobli, Kadubeesanahalli,Outer Ring Road
Bangalore
Karnataka
IN

Trivandrum, India Office

Block No.8, SEZ B, Plot No.18, Technocity Campus Land, Technopark
Trivandrum
Kerala
IN

Trivandrum, India (HQ) Office

Unit No: 3202 B, Cluster-W, Oaks Liwa Heights, JLT
Thiruvananthapuram
please select...
IN

Trivandrum, India (HQ) Head Office

Vikramapuram HillsKuravankonam, Kowdiar P.O
Thiruvananthapuram
Kerala
IN

Melbourne, Australia Office

Suite #2703, Level 27/101 Collins Street
Melbourne
AU

Vancouver, Canada Office

1285 West Broadway, Suite 600
Vancouver
CA

Germany Office

Ledderhoser Weg
Bad Kreuznach
DE

Kochi, India Office

SEZ Unit, 1st floorPhase II, Carnival InfoparkKakkanad
Kochi
IN

Chennai, India Office

2nd Floor, 4th Module, Neville Tower, Ramanujan IT City, Taramani, Rajiv Gandhi Salai (OMR)
Chennai
IN

Telephone

+91 471 6637 100

Contact

Premjith Alampilly Chandrasekharan
[email protected]
Back to all SunTec Business Solutions announcements

SunTec Announces TWIST BSB Compliance

SunTec Business Solutions, the leading provider of Relationship-based Pricing and Centralized Billing solutions, today announced that its flagship product for the financial services vertical – TBMS-F -- is compliant with TWIST’s (Transaction Workflow Innovation Standards) Bank Services Billing Standard (BSB).

TWIST BSB was created at behest of a group of over 80 corporations. It provides a consistent means for banks to periodically advise wholesale clients of their service usage and the charges accrued, and thus enhance process efficiency and optimize controllership. It can be used to communicate the type, quantity, price and other information on the bank services used, in detail and in standard format, through invoices presented to wholesale users.

“SunTec is committed to delivering solutions that meet industry standards -- like TWIST BSB used in the distribution of electronic details reflecting the charges applied to clients. SunTec delivers TWIST BSB outputs through its standard data interfacing platform. Future upgrades to the standard can be achieved through metadata updates, much like acquiring a new map for your navigation system,” said K Nanda Kumar, CEO, SunTec. “Several of our clients and Prospects have trialed the new facility; it will enter the production phase shortly.”

BSB covers a multi-agent and multi-payment method perspective, allowing corporates to use the same standard e-invoicing and payment processes for financial and commercial transactions, irrespective of the mode of issuance -- electronic transfer, check issuance, direct debit or cards. TWIST has developed together with SWIFT the ISO 20022 payment standards that are at the heart of the EU’s Single Euro Payment Area project (SEPA). The standards are constructed to deliver end-t-end straight through processing, for instance by structuring the information to be passed through inter-bank clearing channels.
"TWIST BSB has now been implemented by several banks and corporations to facilitate standardization of billing processes and analysis thereof by corporate customers, irrespective of the nature of the services delivered or the country in which they are delivered. We are pleased to note that SunTec has worked with several global banks for the implementation of BSB in a manner that facilitates further uptake and future maintenance of the standard, as and when required. We see this as yet another progressive step for TWIST and the implementation of its standards," said Tom Buschman, Chairman, TWIST.