Bulk Payment Processing

  • Large Corporate customers typically have large number of payments and collections instructions sent to their bank.
  • These instructions generally are made available from their ERP systems.
  • Web channel is not feasible for large volume payments.
  • Customers look for end to end straight thru processing of their payments with minimal or no user intervention.
  • Customer have heterogenous file formats that require to be converted to bank's internal format.
  • Desktop Application that is installed on the customers' environment.
  • Customer can define transformation definitions to teach the system to automatically convert the customers' file format to the bank's internal format.
  • Files could be Excel, Fixed Length, CSV etc.
  • Bank issue a certificate to the Customer to use the Bulk Payment Processing Desktop.
  • Customer encrypts and signs the file before transmitting to the Bank.
  • Status updates are downloaded automatically by the Desktop Application.
  • File is validated at the customer end itself not having to wait for the bank to process and inform about invalid file.
  • Bank can help define transformation definitions for complex file formats and push it to the customer's desktop automatically.