Electronic File Delivery (EFD) is an exceptional integrated payables vehicle for a financial institution’s corporate customers to transmit high volumes of payment information regardless of how the payment is processed.
Electronic File Delivery provides users with a bulk transfer method for their payments using bank defined or customer defined proprietary file formats - domestic and international. Users can review, upload, batch, re-batch and delete payment files from different locations around the world.
- Handle tens of thousands of payments per day by sending one file with all payments
- Incorporates translation intelligence which means that the application can receive numerous inbound file formats and deliver either a single format to the bank’s payment processing system or create separate payment files for multiple back office systems. Any bulk format can be supported – proprietary or standard
- Improves customer’s reconciliation abilities by obtaining transaction and/or file level confirmations, ability to rebatch option to move items from one file to another and view remittance information sent with payment data
- Easily manages receipt and delivery of files worldwide by allowing development of new file formats to support customers’ proprietary formats, adding file-type or payment-type specific validations, and a console to examine errors and exceptions
- Offers advanced security features such as multiple approval levels, locked-down source paths, limit checking, and duplicate file checking
- Processes 10,000 items asynchronously in under 10 minutes
- Conforms to the Unicode Standard to support worldwide interchange and processing of data