The bulk payments service enables the import and subsequent mapping of payment files from all enterprise (ERP) and treasury systems, allowing the secure transfer of payments. It also provides for acknowledgments of payments, collection of data from the bank and balance and transaction data retrieval. The Bulk Payments Service of ‘iGlobal Banker’ enables banks to interface in a real time manner as well as file loads, on a store and forward basis. If a corporate customer presents a multi-country file (e.g. a mixture of domestic and cross-border payments), it is passed through the Bulk Payments Service onto the ‘iGlobal Translator’. The iGlobal Translator ensures the payment file(s) are translated into a bank-accepted local format, before they are sent to that bank. The transactions will also be split into domestic and cross-border payments, ready to be processed. This ensures the banks and their corporate clients have the flexibility to process all payment types.
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