Annapolis, MD and New York, NY – April 4, 2017 – Today, the Accredited Standards Committee X9 Inc. (X9) and Volante Technologies Inc. (Volante) announced the release of a web-based application, the BTRS Validator, for testing and validating messages defined by the Balance and Transaction Reporting Standard (BTRS).
Mary Hughes, Chair, X9C Corporate Banking Subcommittee, said, “The new BTRS Validator will help demystify the BTRS Version 3 file format and transaction code usage. This app will help clearly document details of how a bank’s BAI2 file varies from the BTRS standard. Many may be surprised at how closely their file compares to the BTRS standard, so we anticipate a high demand for this tool and expect many banks and treasury workstation providers to proceed with projects to support BTRS.’
X9.121-2015 BTRS Version 3 provides banks and corporations with a modernized format that will enable corporations to manage their business accounts more effectively, particularly across banking relationships. Since many financial institutions depend on legacy systems, the application also has the ability to transform existing BAI2 messages to the newer BTRS format, after which they are validated.
The BTRS Validator was developed by Volante and can be used by anybody wishing to compare BTRS messages created by their software with the requirements of the current BTRS standard.
The BTRS Validator application can be accessed through the X9 web site at BTRS Validator.