Daily process

The Daily process can be a bit different when it comes to the details depending on which country we are based in and which custodians we are working with. This example shows the process when a Swedish setup is used with BankGiro integration and the Swedish Government Collection Agency.

The daily process is generally comprised of importing five file types, that's it!

Payout confirmations

Each day a file is received including confirmations of successful payments that were sent. The confirmations are then used to finalize Settlement orders which in turn triggers the start of the associated loan so that interest starts accruing.

Bounced settlements

The next file to import is the bounced payments, this file includes all payments that for some reason did not find their way to the receiver with a message that tells us why. The result of the bounced payment import is that Instructions gets moved back from their process which requires attention from out part to either update instructions with the correct account information or cancel the loan application all together.

Customer payments

The customer payment file includes all customer payments for the day that will be applied to customer transaction accounts, against invoices etc.

Collection payments

Collection payments are imported in the same way as customer payments and are associated with a different process than customer payments.

Lender deposits

Lender deposits are imported in the same way as customer payments and are associated with a different process than customer payments.

Autogiro mandates

In Sweden the autogiro mandates are used to verify bank accounts. If the Product configuration requires that accounts are verified an autogiro mandate will be created and sent through the Mandates function to the bank. When the mandates are received they will let us know if the customer actually was the owner to the Payment receiver or not.

Consult the articles below for detailed instructions.