This cycle we rolled out improvements like enhanced metadata search and real-time payment confirmations. Upcoming updates include transaction categorization for unreconciled transactions, vendor code filters, faster high-volume reconciliations, and more.

Recently Released

✅ Reconciliation

(Released 12/9) Adjust Metadata Search Behavior: Metadata search in the UI can now take on multiple values in a single query.

(Released 12/2) Custom Identifiers in the UI: Users can filter by custom identifier in the UI.

(Released 11/19) CSV Exports in the Side-by-Side View: Users can export CSV files from transactions in the /reconcile page.

(Released 11/19) Exhaustive Drop-Downs for Metadata Search: When searching for metadata in Expected Payments and Transactions, users can now navigate through all of their available keys in the UI.

💵 Payments

(Released 11/27) Real-Time Payment Confirmation: Users can 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.

(Released 11/27) Create Legal Entities at Cross River Bank: Users can create legal entities at Cross River Bank to ensure compliance with regulatory requirements.

Upcoming Changes

⭐️ indicates newly introduced upcoming changes

🧑‍💻 Platform

Deprecating Old Roles: As part of the RBAC system upgrade old roles that are marked as 'To Be Deprecated' will be removed. Any groups that are still associated with these roles will lose access.

Updates to Java and Kotlin SDKs: There is an upcoming change in our Java/Kotlin API that will be part of a new version release. In this update, we will be replacing an external library (Guava) with a custom solution for handling query parameters and headers. What this means for users:

Reduced JAR Size: This change reduces the size of the SDK.
Opt-In Update: Since this is a version change, users will have the option to upgrade at their own pace. The new version will give users access to the improvements, but it won’t affect users who don't choose to move to it.
Minimal Impact: There may be a small adjustment required for users who have been working directly with raw headers or query parameters.

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.

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.

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.

💵 Payments

⭐️ Faster Payments Creation for Larger Volumes: To complement our new Bulk Request API and enhanced file origination performance, we are optimizing our Payment Order creation process. This improvement will significantly increase throughput for high-volume payment creation.

Increased Processing Speed for High Volumes: We’ve optimized our systems to significantly boost the processing speed of large-volume ACH payments across all banks, expanding beyond just JPMC.

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.

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.

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.

✅ Reconciliation

⭐️ Transaction Categorization for Unreconciled Transactions: Customers will be able to create rules that apply metadata tags when transactions are created in the platform, in addition to when they are reconciled. This will unlock tagging for transactions users don’t need to reconcile, such as bank charges, fees, and interest.

⭐️ Vendor Codes in the UI: We will expose vendor codes for transactions as filters and give users the ability to create reconciliation and categorization rules using vendor codes.

⭐️ Expanded Support for Bulk Reconciliation. We will support additional edge cases for many-1 bulk reconciliation in the UI.

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.

📚 Ledgers

⭐️ Unlinked Ledger Entry Details in Account Recon: When viewing historical account variance in the /reconciliation page, users will be able to see where variance is caused by Ledger Transactions that are not linked to payments. Users will be able to investigate by filtering to unlinked Entries on a given Ledger Account.

⭐️ Linked Ledgerable Details in UI: When viewing a bank transaction, users will be able to see associated Ledger Transactions in the Related Items details. Users will also be able to see linked Ledger Transaction information on Payment Order and Expected Payment objects.

⭐️ Historical Ledger Statements: Users will be able to generate statements that show a set of Ledger Account or Category balances for each day over a range of dates, to support MTL and other reporting use cases.

⭐️ More Scalable LACs: Ledger Account Categories will support containing up to 10M Ledger Accounts and up to 7 levels of nesting.

⭐️ Improved Account Recon View Performance: We will improve performance of the /reconcile page for organizations with large numbers of Expected Payments and Ledger Transactions.

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.

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.

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.