Trading partner network
Financial Services EDI and API integration
Banks, asset managers, payment networks, fintechs and insurers. ECOM connects your business with financial institutions through EDI, APIs, managed file transfer and portal automation, integrated with your ERP.
How the exchange works
How financial institutions exchange business documents
Exchange with banks is mostly about payments and cash reporting. Banks accept payment files and send back statements and lockbox data in their own formats, often several per bank, so the work is mapping each bank’s format to your ERP and treasury processes.
| Document | What it does in this relationship |
|---|---|
| EDI 820Payment Order/Remittance Advice | Payment order and remittance advice: what is being paid and which invoices it covers. |
| EDI 823Lockbox | Lockbox data: customer payments received by the bank, with remittance details. |
| ISO 20022 | The XML message standard banks use for payment initiation and account statements. |
| BAI2 | A bank file format for prior-day and intraday balance and transaction reporting. |
| NACHA | The file format for US ACH payments. |
What onboarding a new financial services partner usually involves
- Collect each bank’s file specifications and its connectivity and security requirements.
- Map payment runs, statements and lockbox files to your ERP and cash application process.
- Test with the bank’s test environment, including rejected payments, before sending live files.
Integration guides
Financial Services integration guides
Detailed guides covering documents, workflows, connectivity and ERP options for specific companies.
Bank of America EDI integration
A guide for corporate finance teams automating payments, bank statements and remittance data with Bank of America.
Read the guide
Citi EDI integration
A guide for finance teams automating payments and bank reporting with Citi through CitiConnect and CitiDirect.
Read the guide
JPMorgan Chase EDI integration
A guide for corporate finance teams connecting ERP payment runs and bank statements with J.P. Morgan through secure file exchange and standard formats.
Read the guide
Wells Fargo EDI integration
A guide for finance teams automating payments, statements and remittance data with Wells Fargo, including ISO 20022 readiness.
Read the guidePartners
Financial institutions we connect with
Examples of financial institutions ECOM can connect your business with. Companies with an integration guide are marked.
Company names and logos are trademarks of their respective owners and do not imply endorsement of, or a partnership with, ECOM Specialist.
Connecting with a financial services partner not listed here?
ECOM connects businesses with partners of every size using their published EDI, API or file requirements.