Every system needs to work in tandem than as silos. Corporate ERP systems to be connected with the financial service provider APIs to exchange data for processing like approved payments, invoices for financing, purchase orders and even the master data.
Mass volume of invoices, funding requests, collection data for processing and made available for consumption. Built in adapters and sensors to detect the availability of data and process them. “BYOF” - Bring your Own Format accelerates the whole thing and the
The data exchange for incoming and reverse feed shall use variety of integration styles/patterns like FTP/SFTP, Queues, Rest/SOAP API in a secured manner.
Every system is unique and its data strucure varies. Difficult for your customer to adjust their end systems to submit the data in a canonical way
Once the incoming feeds are processed, successfully completed and errors to be passed back to the origination systems to update on their ends to understand the status, correcting and re-initiatiing things.