What is Extended Banking?

A solution integrated with Microsoft Dynamics 365 Finance (F&O) for rapid, automated processing of bank transactions and reversals.

Improved management of payment transactions

Want to save time and money by faster processing client and supplier payments and automated reconciliation? Are you looking to reduce the number of unsettled payment transactions while making the individual processing of payment reversals a thing of the past? With Extended Banking, you can streamline payment transactions further in Microsoft Dynamics 365 Finance. Transactions are imported and processed without manual intervention. Efficient and accurate, resulting in increased productivity and significant time-savings in financial administration.

Matching payments (reconciliation) to outstanding items is a time-consuming process – especially if you have a large number of transactions to process or peak loads to deal with. Extended Banking makes it possible to automate the matching of over 95% of bank statement transactions in common formats like MT940 and CAMT.053.

The solution therefore offers high added value for:

(Online) retailers
Wholesale
Hospitals
Production companies
Financial service-companies
Logistic companies
Other organizations that process large amounts of transactions or that deal with peak loads

Reasons for choosing Extended Banking

Works with well-known standard bank statement formats MT940 and CAMT.053. Other formats on request.
Completely automated processing of bank statements is possible by using batch processing in combination with Azure storage.
By using a bridging account, the bank balance is immediately updated; settlements take place from the bridging account.
Search criteria can be set up in a flexible way, allowing bank statement transactions to be assigned and processed automatically. The reliability of the allocation is determined via adjustable scores and colours.
Very extensive set of search values, allowing you to achieve a very high matching rate.
The user’s attention is focussed on processing outages, while the bulk of transactions is processed automatically in the background.
Provides the ability to manually process (outage) transactions with multiple employees at the same time.
Available in English, Dutch and German.

Extended Banking

by Focus Enterprise Solutions B.V.