Streamline ERP/TMS-to-Bank Communications with

Fides Conversion Services

Introduction

Sending and receiving payments involves disparate exchange protocols and messaging formats. Even XML ISO 20022 is not a global standard. Each country, and each bank, can have its own requirements, and that is not likely to change in the foreseeable future.

This directly impacts the financial data that you need to send and receive from your ERP or TMS. Adjusting formats within each backend treasury system to correspond to individual bank specifications is resource- and laborintensive, even assuming you have the IT staff and necessary expertise. This is why many finance departments still have treasury analysts spending hours of time every week doing manual work — which also isn’t a scalable solution.

”Because our statements are now structured the same way, we have been able to automate a high percentage of transfers. When the system sees a specific narrative in a bank statement, it will automatically create the correct type of transfer.“
Charline Renard Treasury Analyst, Etax

Take the burden of conversion off of your team with Fides Conversion Services

We set up a standard format within your ERP or TMS, and automatically convert bank messages to the format required by each specific bank.

Conversion services can also be applied to bank statements. We can harmonize all formats of messaging from your bank, and ensure they reach your ERP or TMS in the standardized format of your choice.

Conversion Service Features for Fides ARS and Fides EFT

Fides ARS

  • Conversion of non-standard formats (PDF, txt, Excel and more) to any standardized format, including aggregation with the remaining bank
  • Input via email, APIs, SWIFT FileAct or SFTP from
    the bank’s side
  • Conversion of BAI and CAMT messages to MT940 formats or vice-versa messaging from your bank, and ensure they reach your ERP or TMS in the standardized format of your choice.

Fides EFT

  • Move, enrich, and replace XML to XML conversions in terms of tags (ISO20022)
  • Conversion to proprietary formats such as BACS, ACH/NACHA, Zengin, Flat File and more
  • IDOC (SAP) Conversion to XML formats
  • Upload of proprietary formats to Fides Multibanking Suite for conversion and execution

Validation Services

With a proprietary toolkit of file conversion, validation, and sanction filtering capabilities, Fides assures that clients’ payment and messaging activity is accurate and reliable. Our conversion services also include:

  • Validation of the new format
  • Validation of content (debit account, BIC, limits, etc.)
  • Validation of data transfer to or from your bank(s)
  • Enrichment of payment data with mapping tables based on incoming codes
  • Adjustment of data, moving tags
  • Adding static data if this cannot be performed by the ERP/TMS

The Fides Difference

Fides is the world leader in multibank connectivity, payments and transaction communications. A market leader for more than a century, Fides is committed to the principles of Open Banking, making treasury and financial operations as efficient, transparent and secure as possible for all organizations.

Fides provides everything organizations need for efficient cash and liquidity management, all through a single platform — along with connectivity to more than 13,000 financial institutions through an unmatched range of methods and channels. Thousands of companies around the globe rely on Fides’ connectivity capabilities and comprehensive workflow, reporting, conversion, validation and security services, for their own businesses and for extending services to their clients.

Whether you access via the secure Fides Multibanking Suite or take advantage of our seamless integration with third-party ERP, TMS and other backend systems, Fides is the only platform you need.

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