SAP MBC acts as a single point corporate-to-bank connectivity increasing the visibility and control over all the financial transactions that take place periodically. In general, the daily essential financial transactions become difficult when there are too many exchanges between the bank and the corporate. Therefore, automating these transactions with a single point connectivity helps in tracking all the changes with end-to-end encryption through SWIFT.
This entire solution of payment tracking, and workflow approves can be achieved within your organization through two elements, namely:
SAP Multibank Connectivity has the following benefits
Digital Core (SAP ERP or SAP S/4HANA) – This is where the bank master can be maintained, workflows for the payments are triggers and approvals are tracked. The digital core allows triggers payments and monitors the payment end-to-end to detect any fraud.
SAP Multibank Connectivity – Provides transaction routing capabilities with the highest security standards This relates to the core digital via web services. MBC is installed via SAP Cloud Platform Interface and the maintenance is taken care by SAP upgrades to give an efficient end-to-end payment process within your treasury.
The key processes covered by Bank Integration with SAP Multibank Connectivity is as follows:
SAP MBC can be procured as a scope item activation when you use SAP S/4HANA Cloud as your digital core. This scope item is 16R (SAP Multibank Connectivity). The image below shows the process flow of SAP Multi-Bank Connectivity in SAP S/4HANA Cloud. There are two steps in this process
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