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DBNAlliance Network to introduce e-remittance support

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The Digital Business Networks Alliance has developed and published a structured e-remittance approach based on ISO 20022.

The e-remittance is an electronic remittance advice, whose goal is to inform its recipient (usually the supplier) about the payment amount, invoice references, deductions, or adjustments. It complements e-invoicing and is widely used in the banking and payment industry.

Supporting e-remittances is a logical step, as the Digital Business Networks Alliance (DBNAlliance) network is an open exchange network, much like Peppol, and is designed to support U.S. businesses, banks & credit-card companies. Additionally, ISO 20022 serves as a global standard for electronic data interchange between financial institutions.

Benefits for businesses

  • A standardized remittance advice format for all payment methods
  • Easier reconciliation through structured data and unique identifiers
  • Integration with ERP systems for faster cash application
  • Support for ACH, wire, card, and check payments
  • With e-remittance, companies can move away from manual processes, reduce costs, and accelerate payment matching

Interested in the details? Read the DBNAlliance Profile for Remittance Advice.

The upcoming E-Invoicing Exchange Summit in Miami will also offer a great opportunity to learn more about the DBNAlliance, with a free session dedicated to the network on March 24, followed by further discussions during the event on March 25 and 26.

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