American Express Bank has launched a new correspondent online banking interface for the retrieval of consolidated payments information.
The system, dubbed eAccess from American Express Bank, aggregates essential payments data - including Swift payment instructions, US and euro clearing messages and transaction and balance details across multiple American Express Bank locations - through a single user interface.
Thomas Wiles, AEB senior director, financial institutions group, says the system is a key element in the bank's push to build a common product platform for corbanking.
"Today, clients are often given only partial information through their statements and advices," he says. "It's a function of how payment systems work that a single payment is composed of seperate messages. Too often, clients have to contact their correspondent for more information. We're integrating information for a total transaction view."