This cycle brings smoother reconciliation with automated net credit/debit matching, while upcoming updates will speed up payments, enable real-time confirmations, enhance ledger flexibility and performance, and more.

Recently Released

✅ Reconciliation

Transaction Categorization Rule Options: Users can create categorization rules with an expanded list of fields (e.g. Payment Order Purpose Code, Creation Method, Type).

Net Credit and Debit Reconciliation: Users can create reconciliation rules which automatically reconcile a Transaction with a net amount of both credit and debit Expected Payments, instead of only credit or only debit Expected Payments.

Improved Automation: Our systems have been further enhanced to automatically trigger reconciliation based on new or updated Expected Payments data.

Upcoming Changes

🧑‍💻 Platform

Optimized High-Volume Payments: Our systems will be optimized to significantly increase the processing speed for large volumes of ACH payments to JPMC.

Cycle Through Approvals: After approving a Payment Order, users will be able to move to the next item without returning to the approval list.

Payment Approvals by Currency: Users will be able to filter payment approvals by currency on the approvals list.

Saved Filters: Users will be able to save complex filter combinations for recurring workflows, simplifying navigation back to specific views.

File Sharing via SFTP: Users will be able to perform recurring data uploads by sharing files via SFTP. Users will be able to create Payment Orders, Expected Payments, Transactions, and Ledger Transactions.

Export Permissions Update: Going forward, users will only have access to exports when they are the creator of the export or when they are assigned access to the report from which the export was created.

Dashboard Clean-Up: Redundant "Status Change" information will be removed from the dashboard, which appears in timeline views for various objects. Similar information can be found in "Events," which are in dashboard views, or retrieved via API and webhooks. Status changes will first be removed for Expected Payments and Payment Orders in November, with additional objects to follow in early 2025. Please contact Support if you have questions or concerns.

Adjust Metadata Search Behavior: Metadata search in the UI will be case insensitive and take in multiple values in a single query.

💵 Payments

Custom Payment Order Templates: Users will be able to create custom templates for different Payment Order use cases to make it easier to initiate payments. Users will be able to control which fields on the Payment Order form are visible, required, optional, and preset. Contact our team to schedule a demo.

Real-Time Payment Confirmation: Users will be able to receive real-time confirmation of RTP or FedNow payments at Bank of America, Cross River, JP Morgan, US Bank, and Wells Fargo via the confirmed event in Payment Order webhooks.

Request for Payment (RFP) at PNC: Users will be able to utilize Request for Payment (RFP) on the Real Time Payments (RTP) network at PNC.

FedNow Routing Number Eligibility Check: We are adding support for FedNow to our routing number eligibility API. This API validates whether a counterparty can receive a particular payment type. If a counterparty has the ability to receive a FedNow payment, we will return fednow on the supported_payment_types field.

Expanded Cross-Border Payment Coverage: We are planning to expand our cross-border payment capabilities at Citi via the Worldlink product and traditional SWIFT wires, adding support for new currencies and countries.

Global Payments Validation: Payment Order fields for cross border payments will automatically be validated against the bank’s requirements for each country and currency. This will notify the user about required fields and the correct format for successful payment completion. For example, this can include Purpose Codes, Tax Identifiers, or Addresses. We will support Global Payments Validations at Bank of America, JP Morgan, and Citi.

Support for Local Payment Methods: We will support local payment methods in India, Japan, and Singapore through Bank of America, further expanding our global reach.

New Bank Integrations: New bank integrations will be added for Regions, Web Bank, and Western Alliance, expanding banking options for users.

Create Legal Entities at Cross River Bank: Users will be able to create legal entities at Cross River Bank to ensure compliance with regulatory requirements.

✅ Reconciliation

Many-to-Many Reconciliation: Users will be able to create rules to automatically reconcile many Transactions to many Expected Payments, enabling reconciliation for more complex payment scenarios.

Faster High-Volume Recon: We will launch system improvements to process reconciliations faster when handling high transaction volume.

Custom Identifier Filters: Users will be able to find, search and filter on Expected Payment Custom Identifiers in the Reconciliation UI.

📒 Ledgers

Faster Ledger Queries: Performance improvements will enable faster querying of Ledger Account Category balances; categories with millions of accounts can be fetched in under 200ms.

Filter Enhancements: Users will be able to filter the Ledger Accounts page to view only accounts with nonzero posted balances. We will also fix an issue causing these filters to time out for some users.

Bulk Ledger Account Creation: The bulk requests API will support the creation of up to 1,000 Ledger Accounts in a single request.

Timestamp Specification: Users will be able to specify an effective_at timestamp when creating a Ledger Transaction in the dashboard.

Dashboard Design Update: We will update the design of filters and other pages in the dashboard for a cleaner, more intuitive experience.

Unledgered Amount Display: Users will be able to view the Unledgered Amount next to each bank transaction, showing any amount not yet recorded to the ledger.

Ledgered Payments: When a Payment Order is redrafted, linked Ledger Transactions will be automatically recreated with inherited details from the original transaction.

Preset Payment Amounts: When ledgering a payment from the dashboard, the amount for both credit and debit entries will be preset to the payment amount.

Settlement ID Filter: Users will be able to filter Ledger Transactions in the dashboard by Settlement ID.

Currency Filter Fix: We will fix an issue on the Ledger Account page where a currency filter is ignored in search.

Dropdown Display Fix: We will fix an issue in which the Ledger Account Category dropdown persists on the screen when creating a Ledger Account.

Actions Button Fix: We will fix an issue where users can't access the actions button on Ledger Transactions table rows.