Description of the supply chain roles involved in this e-business process.
The Payment e-business process supports all buyers
and sellers to communicate with their own banks to initiate and confirm payments.
Primary Supply Chain Roles
Trading Partners This role acts as either a Buyer (payer) or Seller (payee). In the banking
community, these partners are refered to as 'corporates'. The Trading Partners are customers
of the Banks.
Banks This role is responsible for making or receiving payments on behalf of the Trading Partners.
Banks supply financial transaction and value-added services to the Trading
Partners.
Enabling Roles
Banking Standards
The banking industry has standards organizations that operate either regionally
within a single country/currency or globally . These standards guide the content of
current financial transactions. The standards organizations have a significant amount of
expertise in the current financial transactions and legislative requirements. SWIFT sets the
messaging standards in bank to bank communications.
External Network Provider
The banking industry has multiple service providers enabling secure financial
transactions across their network. SWIFT and ACH are examples of this type of provider.
SWIFT is the dominate player in cross border financial transactions.
Banking Relationship Connectivity Provider
The banks may have direct connection with a trading partner. More commonly,
banks utilize a third-party organization to handle the physical connectivity of systems between the
Bank and the Trading Partners. The Banking Relationship Connectivity Provider may operate
with or without a hub-connectivity infrastructure. The requirements for connectivity may be
influenced by these providers.
