Swift FileAct

FileAct is a channel that enables communication between financial institution/banks and big corporates to automate payments, collections, trade, and securities services

FileAct by default provides cryptographic services- Hence, files that are transmitted over the network is safe and secure

Its a open community where corporates can subscribe with swift network and reach correspondent bank

Integration and IT costs can be reduced through automatic integration with banks and financial institutions

Corporates can use single channel to communicate with multiple banks and access to multiple markets

FileAct provides two types of services,
Store and Forward
Real Time

Corporates and Banks deal with requestor and responder domain names to send and receive files

Swift FileAct supports all types of fileformats and attachments.

Message type can be classified through request types

FileAct supports both the flows (Corporate to bank) and (bank to Corporate)

Some Examples
Payment services - ISOXML standards
Corporate prepares supplier payments and send across to banks to execute via fileact

Collection services- Direct debit instructions
Corporates send message request in pain.008.001.003 and asks bank to do direct debit from customers account and settle in credits in merchant account

Trade services- Corporate companies who are buyers will request for bank guarantee instructions/ Letter of credits from the issuing bank and ask them to forward to their sellers (advising bank)

Instructions will be issued in MT798 trade messages

Securities- Corporates will buy and sell stocks and bonds- Message will be sent to bank to execute receive free/delivery free transactions.
Message format will be MT540, MT541
Settlement instructions will be taken care by bank and confirmation will be issued via fileact services




Comments

Post a Comment

Popular posts from this blog

Query to get FSG report details with row/column set

Below query is to fetch FSG report titles, names, and description along with will give a view to list of row sets and column sets associated with the report. -- FSG REPORTS -- SELECT fst.id_flex_structure_name , R.NAME , R.report_title , R.DESCRIPTION , R.column_set "COLUMN SET" , rw2.structure_id , rw2.DESCRIPTION "COL DESC" , R.row_set "ROW SET" , rw.DESCRIPTION "ROW DESC" , R.report_display_set "DISPLAY SET" , R.content_set "CONTENT SET" , R.row_order "ROW ORDER" , R.rounding_option "RND" , u.user_name , u.DESCRIPTION , R.creation_date FROM rg_reports_v R    , fnd_id_flex_structures_v fst    , fnd_user u    , rg_report_axis_sets_v rw    , rg_report_axis_sets_v rw2 WHERE r.structure_id = fst.id_flex_num AND R.row_set_id     = rw.axis_set_id AND r.column_set_id  = rw2.axis_set_id AND SUBSTR(fst.id_flex_structure_name,1,2) IN ('DC') AND R.created_by     = u.user_id OR
Read more

How to use lexical parameters in Data template (XML document) R12

Lexical parameters can be added in data definition using &variable name This is flexible variable string where you can execute runtime conditions based on user-inputs Example 1. Append &gc_journal_filter at the end of sql statement 2. Define beforereport function in package signature FUNCTION beforereport RETURN BOOLEAN; 3. Define all the report parameters as a package variable in package signature including lexical parameters 4. Implement beforereport function by building your runtime conditions to be added to SQL statements  FUNCTION beforereport RETURN BOOLEAN IS  BEGIN          IF p_journal_source IS NULL THEN       gc_journal_filter := ' AND jh.je_source IN (''AutoCopy'',''Manual'')';     END IF;          IF p_journal_category IS NULL THEN       gc_journal_filter := 'AND jh.je_category IN (''Other'') ';     END IF;    RETURN TRUE;  END;
Read more

Sub Inventory Transfer API.

Image
Sub Inventory transfer is used to move materials from one sub-inventory to another within same organization. This is especially used to 1. Adjust on-hand quantities between sub-inventories 2. Transfer to another sub-inventories for specific business need like additional sales 3. Damages/expiry products can be moved to non-asset sub-inventories to discard it from inventory valuation report and so on., Key elements 1. From sub inventory 2. To sub inventory 3. Organization 4. Inventory item 5. Transact quantity 6. Transact unit of measure 7. Transaction type 8. Transaction action 9. Transact Reference 10. Transact date 11. Lot Number Open Interfaces mtl_transactions_interface - is used to populate sub inventory transfer details mtl_transaction_lots_interface - is used to populate lot details for particular sub inventory transfer Base Tables mtl_material_transactions - is used to get all type of material transactions like sub-inventory transfer, inter-org tra
Read more