It’s more efficient to store many customer transactions in one application, rather than several. Transaction File Mapping for Precision® from Fiserv can save significant time when uploading transactions from other programs into the bank platform.
Different business strategies call for different mixes of products and services. In some cases, that means third-party, proprietary or spreadsheet information must be stored. You can automate the process of posting transaction data to the appropriate accounts in Precision, rather than performing manual entry. This ability is especially helpful when high volumes of data exist outside the core, including:
- Information related to certain general ledger entries (e.g. prepaid expenses)
- Accounts payable
- Travel club programs
Your financial institution determines how transactions are mapped when uploaded into Precision. With two types of templates that can be established, you select a format for the transaction file you’re importing.
- Boosted efficiency: Automated data import eliminates the need for manual entry, freeing your staff to spend more time with customers and on other business-critical tasks
- Greater flexibility: Any file format is accepted, reducing your need to purchase third-party software interfaces
- Convenient mapping setup: Your financial institution determines how transactions are mapped when uploaded into Precision
- Safeguarded posting: Precision will reject the file if errors are found during file import. You can also correct or change posted transactions