A. What is your idea?
1) Classification
- Opportunity for improvement
2) Brief description
For MT940-based ExtMixedPayment bank statement imports, the standard MT940 processing logic derives Message Code values from predefined MT940 parsing rules and overrides values configured through External File Template Detail Functions. This works for supported MT940 variants, but many banks provide MT940 files with bank-specific transaction codes and structures that are not recognized by the standard parsing logic.
As a result, customers using bank-specific MT940 formats have no supported mechanism to read and utilize transaction codes such as FTRF and other bank-defined values for transaction classification purposes. When these codes cannot be retrieved and mapped, imported transactions default to Direct Cash Transactions and cannot be automatically classified into Supplier Payments, Customer Payments, Transfers, or other transaction types.
The missing capability creates a gap for organizations processing MT940 files from multiple banks, as they cannot leverage existing Message Code mapping functionality to automate transaction classification.
B. Context and scope
1) Who is affected?
- Customers
2) Frequency
- Daily
C. Value and impact
1) What is the business outcome?
- Improves productivity or efficiency
- Reduces cost or manual effort
- Enhances user experience
- Enables new capability
2) Impact scale
- 5 — Enterprise-wide
3) Workaround
Manual review and reclassification of imported bank statement transactions after import.
When the required transaction code cannot be identified during MT940 processing, transactions are imported as Direct Cash Transactions. Users must manually analyze each transaction and update the transaction type before reconciliation and matching can be completed. This becomes increasingly time-consuming for organizations processing large daily bank statement volumes across multiple banks
D. Evidence and examples
The customer demonstrated MT940 files from multiple banks, including banks with different MT940 structures and transaction coding conventions. While the standard MT940 Germany template supports predefined message code handling, other bank-specific transaction codes cannot currently be leveraged for transaction classification.
Example scenario:
- A bank provides transaction code FTRF within the MT940 file.
- The customer wants to map FTRF to a transaction type such as Supplier Payment using the existing Payment Format Message Code functionality.
- The standard MT940 parsing logic does not expose the bank-specific code for mapping.
- Transactions are therefore imported as Direct Cash Transactions and require manual intervention.
The customer processes bank statements from multiple banks and relies on automated classification to reduce reconciliation effort. Without access to these bank-specific transaction codes, users must manually review potentially large numbers of transactions each day
E. Additional details
1) Enter support ticket ID reference (If applicable)
CS0542889
SWARM-8209
2) Would you like to participate in validation or early testing?
Yes