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Technology / AI and automation

CORESTATES & ROYAL BANK OF SCOTLAND LAUNCH ELECTRONIC LINK

CoreStates Financial Corp’s CoreStates Bank subsidiary and the Royal Bank of Scotland have launched an electronic link to speed up payments between the US and the UK. The link will enable money to be transferred via EDI electronic data interchange, giving businesses the facility to transmit near instantaneous dollar and/or sterling payments to each other. The agreement creates the first ever end-to-end EDI capability between the European standard UN/EDIFACT, and the North American standard ASC X12 ANSI.

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