Corporate Bank Mapping

Introduction

Mapping a corporate with a bank is an essential process in the DDRX Platform, ensuring that transactions are smoothly processed and financial operations are streamlined. This process involves a few key steps, and specific permissions, such as checker approval, are required to complete the setup. The guidance provided here details how to navigate the platform's interface to configure these relationships effectively. By following the instructions outlined, admins can ensure that their banking and corporate configurations are accurately aligned to support their operational needs. This document aims to assist admins in navigating through the platform efficiently, making the configuration process straightforward and user-friendly.

Note

A checker approval is needed to successfully map a corporate with the bank.

How To Access On DDRX Platform

Platform Panel -> Banks -> Edit icon (of desired bank) -> Set Preferences

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Steps to map a corporate with bank

The following are the steps to map a corporate with the bank in the DFX platform:

1. Click + Add New Mapping.

2. Fill in the details as below:

Note

All fields are mandatory.

• Corporate Name - Select a corporate from a dropdown menu.

• Bank Integration Mode - Select the method for handling payment instructions and reverse feed files. Below are the three available options:

  • MANUAL - A CredAble internal user manually shares the Payment Instruction file with the bank or uploads reverse feed files (after payment) to the platform.

  • VIA_CORP - The Payment Instruction file is shared with the corporate via email. The corporate is then responsible for forwarding the file to the bank.

  • SFTP - Both the Payment Instruction file and the reverse feed file are directly communicated between the platform and the bank's SFTP server.

• Is Credit Journey Required - Choose whether the underwriting process is required for the corporate. Select the value as No.

• Status - Choose whether to activate or deactivate corporate for the bank.

• Bank Rate - Enter the interest rate applicable to dealers of the corporate.

• Input Branch - Specify the branch of the bank that is funding the corporate on the DFX Platform.

• Behalf Of Branch - Specify the primary branch of the corporate where its bank account is maintained.

• Product Type - Enter the name of lending product submitted by the bank.

• Credit Party - Choose whether the invoice amount is credited to corporate or dealer. Select the value as CORPORATE.

3. Click Submit. Upon clicking this button, the details are forwarded to a checker who reviews, validates, and approves the submitted details. Once the details are approved, the corporate gets successfully mapped to the bank in the platform.