Questions from the Bank about IFS Capabilities | IFS Community
Question

Questions from the Bank about IFS Capabilities

  • 22 June 2022
  • 1 reply
  • 24 views

Userlevel 3
Badge +1

We are getting proposals from different banks.  They had the following questions that I was hoping could get answered quickly as they want to get a proposal to us. 

 

Can IFS do the following (and does it matter if its Apps9 or Apps10)?  We are in the midst of upgrading

 

•             Can IFS accept a ANSI 820 EDI or Lockbox BAI – This will help us better understand if IFS can ingest the industry standard files or what alternatives it needs for cash posting & reconciliation.

o             If no, what formats can it ingest?

•             Can IFS produce an ACH NACHA file, XML/ISO 20022 – Leverage industry standards to help migrate payments from paper to electronic with greater control and oversight.

o             If no, what formats can it produce?

•             Can IFS ingest a BAI or MT940 – Automate the reconciliation process with previous day data.


1 reply

Userlevel 7
Badge +21

Search the community for the various format questions, you’ll find detailed entries like this:

 

You could also look at the Payment Formats per Company to see the list for the various countries.

 

Reply