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Bank Statements – in Oracle Cash Managment Prospective -II

Posted on August 19th, 2007 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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In last post ,you got pretty good idea bank statement . Next few lines give a brief introduction about each of the above formats:

  • BAI2: 'BAI' (or the BAI file format) is a term used to describe a file format for using to perform electronic cash management balance reporting. The BAI format was developed and previously maintained by the Banking Administration Institute (BAI). One common application of the BAI format is for use by banks to transmit returned item data to customers (for example, checks which have been marked insufficient funds (NSF)). The current release is Cash Management Balance Reporting Specifications Version 2, typically referred to as BAI2.
  • SWIFT940: It is a common format used by many banks to provide institutional customers with electronic bank statements. It is part of the SWIFT network that deals in interbank communications specialising in international transfers and is operated by “The Society for Worldwide Interbank Financial Telecommunication” ("SWIFT"). SWIFT transports financial messages in a highly secure way, but does not hold accounts for its members and does not perform any form of clearing or settlement.
  • EDIFACT: It stands for “Electronic Data Interchange For Administration, Commerce and Transport” (EDIFACT) and is the international EDI standard developed under the United Nations. The “International Organization for Standardization” (ISO) has adopted the EDIFACT standard as the ISO standard ISO 9735. The EDIFACT standard provides:
    • A set of syntax rules to structure data
    • An interactive exchange protocol (I-EDI)
    • Standard messages, which allow multi-country and multi-industry exchange.

Hope two post in series will help you for doing integration bank statement in Oracle Cash Management.

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