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Electronic Banking

15 Dec Electronic Banking – standardized electronic banking processes

Posted at 08:37h in Company by
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As part of further development in the area of  IT.integro’s copyrighted products, global companies will be provided with a new solution that will significantly improve the processing of banking transactions. The Electronic Banking is an extension of Dynamics 365 Business Central available on the AppSource platform. The solution standardizes and improves data exchange with multiple banks in multiple countries.

Bank transaction processing with the Electronic Banking

The new IT.integro product was created on the basis of previous design experiences as a response to the real needs of Dynamics 365 Business Central system users and technological changes implemented by Microsoft. The solution offers a number of new functional extensions that improve the processes related to electronic banking, including:

  • defining payment proposal templates and generating payment proposals,
  • improvements in the automatic settlement of bank statements
  • defining transfer priorities for specific customers, vendors, and employees,
  • the ability to define permissions, workflows and user roles within the approval process.

Concept of the Solution

The product is an extension of the standard functionality of Dynamics 365 Business Central and includes:

  • Electronic Banking Base App containing functional and process extensions, and
  • Electronic Banking Extension applications providing specific interfaces for banks in given countries.

Electronic Banking Base App is the core element of the solution and it offers the key functionalities. The App is now available on the AppSource platform. It can be downloaded for free. It provides support for data exchange in the SEPA pain 001.001.03 standard (i.e. in the format supported in Business Central by default) and allows you to test and use the functional extensions and improved electronic banking process.

In order to handle data exchange with local banks, it is necessary to extend the Electronic Banking Base App installation with selected Electronic Banking Extension applications for a given country. Electronic Banking Extension applications support local e-banking requirements, making it easier for enterprises to collaborate with international contractors. To receive more information on the availability of the Electronic Banking Extension apps, please contact IT.integro.

Integration with Polish Functionality – Starter Pack

Currently, the IT.integro team is working on Electronic Banking Extension PL – an application that will enable users to exchange data with banks in Poland. It will also guarantee integration with Polish Functionality – Starter Pack. The application will soon be available on the AppSource platform.

Benefits for users

The Electronic Banking solution allows both companies operating in one country and global organizations to standardize their electronic banking processes, at the same time enabling the exchange of data with local banks. Thanks to additional extensions of the standard Dynamics 365 Business Central functionality, their users can obtain the following benefits:

  • flexibility in defining the settings for exporting transfer orders to banks and importing bank statements;
  • automation enabling settlement for many bank accounts in the shortest possible time;
  • support for multiple export and import file formats;
  • possibility of data exchange via API and WebServices;
  • shorter time of accounting operations, export of transfers or import of bank statements;
  • increased control over transaction management by means of defining user roles, acceptance rules and workflow;
  • reduction of errors resulting from the manual entry of bank statements into the system;
  • streamlining and standardizing electronic banking processes;
  • the ability to track transactions in the Electronic Banking Register.