Data Exchange

The Data Exchange service will meet your reporting requirements through a single source, such as a financial institution's system or your own online financial workstation.

The following are options of the various ways you can receive and/or send your banking information:

• Multi-Bank reporting via Business Online Banking with BillPay—allows you to access your balance and transaction information on all your domestic accounts at another financial institution within the Business Online Banking with BillPay system
• Outbound Data Exchange—allows Sovereign Bank to transmit balance and transaction information on your Sovereign accounts to another financial institution’s banking system
• Inbound Data Exchange—allows you to receive daily bank account and transaction information from all of your financial institutions from a single, consolidated source in BAI2 format. This data can then be manipulated and analyzed on your treasury workstations or other cash management systems
• Outbound International Data Exchange—allows businesses to access their domestic and international account and transaction information generated from multiple banks within a single database. This information is processed through the Society of Worldwide Interbank Financial Telecommunication (SWIFT) network to transmit that information internationally