Glossary

Electronic Banking Internet Communication Standard (EBICS)

 Is a German developed transmission protocol which helps to facilitate Transactions by sending information through the Internet. It is mainly used in Germany, Austria, Switzerland, and France. However, European Financial Institutions started to implement this protocol and it is implemented with SEPA.

How does EBICS work?

EBICS works by providing a safe platform which can be used by the Financial Institutions wishing to exchange the Order information. It employs the highest security protocol by using encryption at the transport and application level (end-to-end).

It works in the same manner as all other Clearing Systems.

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