Twist issues commercial payments requirements

ABN Amro, Bank of America, Citigroup, Deutsche Bank, HSBC, JP Morgan Chase and Standard Chartered Bank have all worked alongside Twist members to ensure universal suitability of the requirements.

Once feedback from other market participants has been received by the end of this month, the Twist task force -- led by management consultant Ernst & Young and oil firm Shell -- said it aims to create a single, open and non-proprietary standard that can be used by any corporate and bank, irrespective