Financial Gateway integration with the bank

Hi,

Does financial gateway interact with the bank?

1) When we dispatch payments, is financial gateway able to actually send the payment file to the bank"? or does it create a file for us that we are supposed then pick up and upload to the bank?

2) For acknowledgements and cancellations, does the bank data come into peoplesoft through financial gateway directly?

3) Does the App class trasfomation program facilitate the integration with the bank?

4) what needs to be set up on the bank side as well as finacial gateway to facilitate this integration-

Thanks-