Electronic Data Interchange (EDI)

EDI is the electronic transmission of payments and payment-related information in standard formats between your trading partners and/or banks. EDI reporting may include invoices, initiation of payments and remittance information processed through BankAtlantic. It provides your company with an efficient way of conducting business.

BankAtlantic receives all valid NACHA-formatted payment and remittance information and delivers it to you the same day. Information is provided electronically online, or through a direct mainframe transmission. Fax or email delivery is also available.

Savings

  • EDI allows you to update your accounts receivable system with an electronic file, eliminating the need to re-key information and avoiding costly manual errors
  • Enables you to take discounts that may be offered by trading partners.

Control

  • Lowers error rates resulting from manual processes
  • Enhances security of payment and information transactions

Efficiency

  • Enables re-engineering of cumbersome, manual processes
  • Facilitates automated cash application

 


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