1 Virtual Account Management File Upload
Corporates often look forward for an option to make multiple transactions and multiple maintenances quickly and conveniently through a single file upload typically for processing the salary of the corporate staff, for making the vendor payments or even for managing their Virtual Accounts or creating invoices on buyers through uploading a file.
File Upload module of Oracle Banking Digital Experience provides with an ability to the corporate customers to manage file uploads. Various financial and non-financial type of files can be upload by the corporate using pre-defined templates resulting in saving the transaction processing time than entering single record for each transaction.
Salary payments, fund transfers, vendor payments are a few examples of financial transactions that can be supported through file upload. A non-financial file upload facilitates upload of multiple payee creation records, Virtual Account creation, Virtual Account modification, Virtual Account closure, Virtual Accounts Structure creation, Virtual Accounts Structure modification, Virtual Entity creation, Virtual Entity modification, Virtual Entity closure, Remittance ID creation and Special Rates addition at a single instance.
| S.No | Functionality Name | File Level Approval | Record Level Approval |
|---|---|---|---|
| 1 | Virtual Account Creation (With and without Real Accounts Linkage) | Y | Y |
| 2 | Virtual Account Modification | Y | Y |
| 3 | Virtual Account Closure | Y | Y |
| 4 | Virtual Accounts Structure creation | Y | N |
| 5 | Virtual Accounts structure Modification | Y | N |
| 6 | Virtual Entity Creation | Y | Y |
| 7 | Virtual Entity Modification | Y | Y |
| 8 | Virtual Entity Closure | Y | Y |
| 9 | Remittance ID Creation | Y | N |
| 10 | Special Rates Addition | Y | N |
Oracle Banking Digital Experience File Upload module enables banks to upload files according to agreed operational and business rules. Also allows the users view the status of the files and records uploaded using Oracle Banking Digital Experience Platform. Further User can view and download the files which went to the error status and response file.
File Uploads facility is simple to use, has daily transaction limits and comes with the security of dual / multi signatory approvals with an option to approve the entire file (File Level approval) or each record uploaded as a part of file (Record level approval)
Features Supported in Application
- Upload a File
- Approve a File (File Authorization)
- View Uploaded Files and status of file and its records (Uploaded File Inquiry)
- Access Error file (if any)
- Access Response File
Prerequistes
- Party Preferences set for Corporate
- Corporate user is created
- Transaction and Party ID access is provided to corporate user.
- Approval rule set up for corporate user to perform the actions.
- Account and Transaction access has been provided to the user
- Access of the file identifiers are provided to the party and user to perform uploads and view other details.