Our Bank Communications Hub makes it possible for you to communicate directly with your bank, from your Microsoft Dynamics 365 Finance and Operations ERP system.

The direct communication is both highly secure and allows you to automate essential financial operations activities such as transferring payments from your ERP to your bank, importing electronic bank statements, manage Direct Debit mandates, and much more.

Key Features

• Direct Communication
• Automation
• Security

Direct Communication to your bank

How do you transfer data to and from your bank today? Are you relying on manual uploads and downloads of sensitive financial data?

With the Bank Communications Hub we ensure that you can connect directly to any bank in the world. By establishing direct communication with your bank you get much more value out of your Microsoft Dynamics 365 Finance and Operations ERP solution.

For instance, the direct communication allows you to comfortably create Vendor Payments (AP) within your ERP system using the standard process, and upon approving and submitting the payment for actual execution, it will be safely transmitted directly to your bank in a seamless and automated flow.

The direct communication can be easily configured for all legal entities within your Microsoft Dynamics 365 Finance and Operations ERP system, thus, direct communication can be setup for any and as many banks as you are working with, globally.

Automation

Automating communication and processing can be highly valuable!

An great example of the benefit of automating your communicating with your bank, is the importing Electronic Bank Statements.

The Bank Communications Hub will import electronic bank statement files from the individual banks automatically on a set cadence of your liking. Upon the importing, the solution will automatically create the bank statement in your ERP system, now ready for performing bank statement reconciliation.

Notice that this importing process can be applied to as many legal entities and across as many bank accounts as you like.

Our solutions provide further capability to also automate the bank statement reconciliation process itself, which may include intelligent matching of existing transactions (across AP, AR, GL)  as well as intelligent mapping capabilities allowing the system to even post missing transactions automatically!

For more information on this, please read more about our Bank Statement Automation module.

Security

When dealing with financial date especially, you want to protect your data from being manipulated or ending up in wrong hands. At the same time, you do not have room for down-time situations, preventing you from submitting payments or recognizing inbound payments.

With the Bank Communications Hub, establishing direct and safe communication to your own bank(s), you and your IT Team is in full control of security and payment approval workflows.

With the Bank Communication Hub, we support manual communication, Host2Host/SFTP, and, Web Services communication.

Extra Value Point

The benefits of automating processes are well documented. From reducing human errors, to avoiding costly customizations of your ERP system, the lost goes on.

But how else do you benefit from leveraging the Bank Communications Hub?

Be Bank Independent

You will be completely Bank Independent. So, what do we mean by that?

Since we have you covered (and integrated) to ANY bank in the world, you can freely choose to work with the bank of your liking, and based on economic reasoning.

If you switch to another banking partner, or, you add a new banking partner in a new region we will simply switch your connectivity to cover that bank as well.

At SK Global Software we never impose any development cost for integrating to a new bank. For any such event you will be covered by the standard licensing of our solution. Gone are the days, where customer had to invest in a costly custom integration to a single bank, only to see that investment lost if wanting to switch to another banking partner!