Cash Management module

Payments

There are various ways to connect banks and financial institutions to magnet™. These are explained in more detail in the following sub-sections.

EBICS Communication

Almost all Swiss banks can be connected to magnet™ via the integrated EBICS module. Depending on the financial institution, bulk and single payments (pain.001, XML pain.001, SWIFT MT10x etc.) can be transmitted and account statements (camt.052, camt.053, MT940/MT942), QR files (camt.054), various protocols / e-documents etc. can be downloaded. LSV (direct debit) and DD (debit direct) with pain.008 are also possible. This can also be automated via RPA Robotic Process Automation.

Furthermore, most European EBICS banks (e.g. Germany, Austria, France, Italy etc.) can also be connected directly. In addition to single payments, bulk payment files (German, Austrian and CGI formats) and pain.008 (direct debit) can also be processed as well.

Other Solutions

Banks which cannot be connected directly via EBICS can be connected to magnet™ using one of the following options: 

  • Manual download of bank data and import into magnet™
  • Multibanking solution (from UBS, ZKB, Commerzbank etc.)
  • Data suppliers (such as Fides or TIS GmbH)
  • Direct SWIFT connections (requires own BIC)
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