What is "ebam"

Electronic Bank Account Management (abbreviated as eBAM) represents the automation, through software, of the following activities between banks and their corporate customers:

• Opening bank accounts
• Maintaining bank accounts such as changing account signatories or spending limits
• Closing bank accounts
• Generating reports as required by law or regulation

The technology that is commonly used to implement eBAM automation is defined by SWIFT and the ISO 20022 Standard for Financial Services Messaging.