Societe Generale SA said it has begun delivering corporate billing statements electronically using the Twist BSB format.
The Paris bank announced last week that it began transmitting the reports in November to General Electric Co.
GE, of Fairfield, Conn., has been encouraging the use of the Twist BSB format for bank services billing. The format was developed by the Transaction Workflow Innovation Standards Team, a not-for-profit industry group.
The BSB format uses extensible markup language to deliver billing reports that corporate accounting systems can ingest for automated processing. Twist says that at least 15 banking companies around the world, including Bank of America Corp., Citigroup Inc., and JP-Morgan Chase & Co., and 30 international companies have agreed to use the format.
Societe Generale said it was the first French bank to report its fees to a corporate client using the BSB format, and that it plans to add more clients to the reporting service.
