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## Background

Oracle Banking Electronic Data Exchange for Corporates is a comprehensive pre-processing and orchestration solution for high volume transaction files received from corporate clients by the financial institutions via host-to-host channel. It enables the bank to tailor the file processing as per corporate’s requirements, control operational workflows based on business rules, optimize file processing, notify, and send responses to the corporates at various stages of file processing. Through this system, transaction files can be orchestrated across the bank's portal for client approval and the product processors for processing, thereby increasing the Straight Trough Processing rates in downstream systems and in lowering processing time.

Oracle Banking Electronic Data Exchange for Corporate is an enterprise-level file processing system designed to process all kinds of files received in corporates/Banks proprietary formats or industry-standard formats such as csv, fixed length, ISO and MT. Furthermore, it enables the bank to monitor and manage file processing lifecycles from a centralized location, provides real-time visibility of file and record statuses, helps resolve file processing errors efficiently thus reducing resolution time.

It is pre-integrated with Oracle Banking Digital Experience for client’s approval, Oracle Banking Payments for the processing of payments files, as well as with Oracle Banking Virtual Account Management, Interest and Charges for Virtual Accounts bulk file uploading.

Parent topic: Preface