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The service envisions an incoming payment automated processing with the help of codes (identifiers) assigned by the Client to its counterparties/customers, agreements etc. The Bank recognizes these identifiers in payment documents in favor of the Client and provides them to the Client in a bank statement via the Bank-Client system. Then all necessary bookkeeping entries related to processing the credited amounts can be automatically effected in the Client’s ERP/accounting program.
This solution will enable to accurately reconcile the data contained in a payment document, match it with the object of identification (for the accounting purposes) and automatically process the incoming payments. Among the system’s key advantages are:
Nordea Bank offers an international identification algorithm. However, the Bank is ready to consider implementing customized algorithms (as suggested by you).