FxOffice supports all major payment formats and can be configured to work with non-standard proprietary formats as well. Templates can be generalized to be cleared on SWIFT and also specific in-country routes including MT103, IBAN, EFT, ACH, ABA, BACS, SEPA, etc. Physical formats like cheques and Drafts are also available, including the ability to print cheques, cheque runs and MICR encoded printing software. In addition, incoming payment formats like pre-authorized debit, bill payment and ACH-debit are included.
Verifiable beneficiary templates are stored in FxOffice which can be configured to include multiple routing types. For example, one beneficiary template can be configured as a wire payment and also as a lower value ACH payment empowering the front office with choices when transacting with clients. In addition, at time of remittance, different payment methods can be configured by priority to ensure lower value payments or high speed payments follow business requirements and fee-based models.
Datasoft FxOffice is a foreign exchange software and global payments platform that offers financial institutions a completely integrated forex, treasury, compliance and payments platform.