1 Create Electronic Fund Transfer Interfaces

This topic provides instruction to create Electronic Fund Transfer interfaces.

Oracle FLEXCUBE Investor Servicing (FC-IS) provides the AMC with the facility of interfacing with external clearing bureaus and clearing banks. The interface is facilitated through electronic funds transfer (EFT), and specific transfer instruction data can be generated as EFT files that are sent to these clearing bureaus.

In the FC-IS system, you can create transfer instructions to be sent to the clearing bank of the AMC from where transfers can be effected to the unit holder bank accounts, for the following business events:

• Redemption Payments: For all the payments that need to be effected through transfer to unit holder bank account due to redemption transactions on any given date, you can generate an EFT file in the system with all the relevant transfer instruction data and the amounts. This file can then be exported to the clearing bank of the AMC.
• Dividend Payments: For all dividend payments that must be effected through transfer to unit holder bank accounts, on a given date, an EFT file can be generated that contains all the relevant transfer instruction data and the amounts. This file can then be manually transmitted to the clearing bank of the AMC that will actually effect the transfers.
• Broker Commission Payments: For all payments through transfer to an agent or broker bank accounts due to commission accrual on any given date, an EFT file can be generated that contains the transfer details and the amounts. This file can be exported to the clearing bank of the AMC.

You can also create transfer instructions to an external clearing bureau for the purpose of debiting the relevant unit holder accounts in the case of debit orders. A hand-off file can be generated with the transfer instruction information that can be sent to an external clearing bureau that will debit the relevant unit holder bank accounts and credit the AMC account as applicable.

In case of NPI payments to a trust, you can generate a single EFT file that contains all the transfer details and the total NPI amount that must be paid to charitable trusts.

This chapter describes the functions in the FC-IS system that you can use to create these transfer instructions EFT files.

This topic contains the following sub-topics:

• Create Transfer Instruction Files
  This topic provides instruction to create Electronic Transfer Instruction Files.
• Few Basic Terms
  This topic provides information on few basic terms to generate the EFT files.
• Generate EFT Files
  This topic provides systematic instruction to generate EFT Files.
• Process EFT Setup Detail
  This topic provides the systematic instructions to generate a batch for an EFT file.
• EFT Setup Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.
• Mark a Batch for Re-Export
  This topic provides the systematic instructions to mark a Batch for Re-Export.
• Process Payment Clearing Detail
  This topic provides the systematic instructions to process payment clearing.
• Payment Clearing Summary
  This topic provides the systematic instructions to perform the basic operations on the selected records.