Streamline Payments In and Payments Out
BankFabric is the secure engine behind reliable payment automation within your ERP or other automation software tools.
ISSUING PAYMENTS
Vendor Payment Automation
Prearrange payments efficiently to reduce the risk of human error and late payments. BankFabric is an ERP-agnostic bank connectivity solution that can handle all payment types (printed checks, ACH, wire transfers, purchase cards, virtual pay, and more), and transmits payment information from all your legal entities to your bank within a single file. Connection is established through secure banking integration protocols, including SFTP (SSH File Transfer Protocol), SWIFT, APIs, or Web Services, without the need for additional coding.
Payment Status Report (Payment Return Files)
Track transactions to see which payments have been returned by your bank, so you can correct any errors and resubmit in a timely manner. BankFabric automatically polls for payment return file for payments issued (including ACH, wire transfers, and more), showing which payments are eligible for re-transmission and which are ineligible. Create returns (entries that cannot be honored by the receiving party’s bank) and reversals (entries that correct previous transactions) directly within your ERP.
Positive Pay
Prevent check fraud by reconciling issued checks and those presented for payment daily. BankFabric allows you to seamlessly transmit your Positive Pay file to the bank to identify checks presented for payment that fail to match with checks issued by your company. Use BankFabric to automate the Positive Pay process within your ERP to surface suspect checks, so you can issue pay/no pay decisions before the bank authorizes payment.
RECEIVING PAYMENTS
Direct Debit
Automate direct debit transactions within your ERP, using BankFabric to communicate directly with your bank in whatever payment format your bank requires. Embedded bank connectivity enables automation of dispatching payment files, managing bank responses, sending confirmations, and recording transactions without the risk of human data entry errors or time-consuming multiple logins to your banks.
Unite Your Financial Institutions
Embedded multi-bank connectivity from BankFabric consolidates your financial information within your ERP or corporate treasury software.
Why Connect with BankFabric?
Send and receive all payment types from any number of banks, in any country globally.
Security/Encryption
Azure file storage and transmission support your ERP’s built-in security measures
Global Reach
Connect all your legal entities with all major global banks and financial institutions
Multiple Format Standards
Integrated format standards, including API, ISO, SEPA, ACH, BACS, IAT, and more
Cloud Technology
Cloud hosting means no expensive software to install, customize, or maintain
Any Connectivity Protocols
BankFabric meets any connectivity and format requirements of your bank and ERP (SFTP/API/SWIFT/EBICS)
ERP Automation
Securely automate daily banking activities directly from your ERP
Connecting Banking Systems Worldwide
Explore the Platform
Learn more about the technical and functional aspects of BankFabric by reviewing our frequently asked questions.
Ready to Level Up with Secure Banking Automation?
Schedule a consultation to discuss how a partnership with BankFabric will revolutionize your ERP or treasury.