CoCoNet plans to introduce a new business API (Application Programming Interface) to Multiversa IFP International Finance Portal for the handling of remote payment orders.
Large companies often directly send payments to the bank via FTP, SWIFT or other bulk channels. Typically banks will store these payments in middleware systems and further on will process them in back-end systems. To enhance the convenience for customers there is a demand to have these payments available in the MULTIVERA IFP channel, too, in order to view and sign/co-sign orders or even manipulate payments in the "online" channel.
Thus CoCoNet will extend MULTIVERSA IFP by a new API. This API will enable users of customers to view, modify, cancel or authorise orders by connecting MULTIVERSA IFP with the bank's middleware systems. This means that for MULTIVERSA IFP there is no need to retrieve and store the payment files or order files from the middleware. Remotely stored orders will be remotely accessed by MULTIVERSA IFP allowing the customers to work even on very large order files in the portal channel that have been uploaded through other channels.
MULTIVERSA IFP displays the orders and contained payments on its well-known GUI(graphical user interface). Users now can work on existing orders, e. g. cancel or authorise those, remove payments from orders or modify payments e.g. by changing the execution date depending on the specific permission profile in MULTIVERSA IFP.
The functional scope of the new business API further extends the usability of the well established e-business portal MULTIVERSA IFP.