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Agenda
Overview
Encryption Mechanism Routing feature
Benefits of solution
Overview
Process Flow
Payment Saved In Oracle Payment Approval Engine Process
Concurrent Program generates .csv File Payment sent to bank Bank Environment
payments. All approval process is manual Proposed solution replaces manual processes Custom Approval workflow process can be configured as per clients requirement Payment processes can be tracked accurately
oracle An approve/reject notification is sent to the approvers Subsequent FYI notifications are sent to approval engine participants Payments can be approved rejected at any level
File Generation
After the approval of payments, a concurrent program
generates the specific file. Concurrent program checks for data validations and generates file in system. File contains payment standards as specified by central bank. Validation process avoid false data entry into bank system.
file transfer activity and is highly followed in transfer mechanism File is transferred as an encrypted file Encryption typically is of PGP(Pretty Good Privacy) Protocol PGP is an OS level protocol and is suggested by most of the banks
mentioned by central bank If payments passes through validations then an acknowledgement file is sent to oracle within half hour. If payments fail the validation then a negative acknowledgement is sent accordingly
validation An end of the day status report is sent back to oracle after payment processing hours The report contains detail analysis of the payment including the current processing status, amount transferred, beneficiary details etc. Process compeletes.
accuracy.