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Adding Addenda Detail to ISO 20022 CGI Payment Format

edited Jan 30, 2019 4:30PM in Payables, Payments & Cash Management 12 comments

Summary

SaaS doesn't provide the ability to map addenda details to payment file - extremely limiting treasury payment processing issue

Content

Most Global Banking Partners expect to receive free form additional payment information -- known as addenda -- in the <Ustrd> xml tag under the <RmtInf> tag within an ISO 20022 xml message. The delivered data model doesn't provide the ability to add this tag and allow for the mapping of the Memo field from the ad hoc payments UI to the payment file. Passing additional payment information to beneficiaries to support the identification of payments is a core treasury process regardless of client industry. This has caused one client to not use the the ad hoc payment's functionality and will continue

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