Can ERP Cloud AP Create Automated Payment Files Without The Setting Up A SWIFT Infrastructure? (Doc ID 2367670.1)

Last updated on DECEMBER 02, 2022

Applies to:

Goal

We are implementing Oracle ERP Cloud Financials R13. We will have several jurisdictions (LEs) and currencies and therefore, we will have several bank accounts. We are engaging with our Spanish bank to define and implement the connection between Oracle ERP Cloud Accounts Payables and the bank system for processing automated payment files.

We've been told by our bank (xxxxx xxxxxxxx) that we need to have a SWIFTNET infrastructure in place and that we need to request a BIC number from SWIFT.
This implies extra costs and time / implementation and the contracting of an extra vendor (intermediary between our company and SWIFT) whose infrastructure. we could use to connect to SWIFT.


I would like to check with you if it's true that we need to have a SWIFT infrastructure in place to process automated payment files from

Oracle ERP Cloud AP to our bank (xxxxx xxxxxxxx). If so, are there any alternatives or workaround? We would like to create automated payment files in AP and would like to be able to send these to our bank in an (cost-)efficient and simple way.
 I hope you can advise us on this topic and/or send me the documentation for Oracle ERP Cloud R13 Payments so that we can take a decision based on the facts.
 

Solution

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