Bank File Formats Supported by Account Reconciliation in Data Management

AB.

Account Reconciliation in Oracle supports multiple bank file formats using pre-built adapters in Data Management. These adapters help in automating the data loading process from various bank systems, thereby reducing the manual effort involved in reconciling accounts.

The correct answer to this question is options A and B - Account Reconciliation supports SWIFT MT940 and BAI file formats using pre-built adapters in Data Management.

Let's take a closer look at these two file formats:

1. SWIFT MT940: SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a messaging network used by banks and other financial institutions to securely exchange financial information. The MT940 format is a standardized format for bank statement files. It contains transactional information such as account balances, transaction details, and references. This file format is widely used in Europe and other parts of the world.

2. BAI: BAI (Bank Administration Institute) is an association of banks that provides educational and training services to its members. The BAI format is a standardized format for electronic bank statements. It contains information on account balances, transactions, and other details. This format is widely used in the United States.

In addition to these two formats, Account Reconciliation also supports other formats like EDI (Electronic Data Interchange) and XML (Extensible Markup Language), which are not relevant to this question.

In summary, Account Reconciliation in Oracle supports the SWIFT MT940 and BAI file formats using pre-built adapters in Data Management. These adapters enable the automatic loading of bank data into the reconciliation process, thereby reducing manual effort and increasing efficiency.