Credit transfers
Vendors can be paid from accounts payable by transmitting credit transfer messages to the bank in a format that the bank can interpret. The bank can then take the appropriate action.
Chile specifics
The volume of credit transfers has grown substantially for both high-value transactions and for bulk, non-urgent transfers for payroll, supplier and other third-party payments.
For payments to vendors, the user sends data electronically as a flat file to the bank.
How Infor meets the requirement
The BOD is used to generate the vendor payment file to LSP. A message is generated and sent to the bank to pay the vendor with the given instructions.
The successful triggering of the BOD to ION is validated against the corresponding Schema. The output is saved in the designated folder.
These are the supported formats in FSM–Localization integration:
- CL Santander
- CL Banco De Chile
- XC ISO20022 pain 001