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Former Member

SPL screening of FI incoming payments

I have been tasked with setting up SPL screening of incoming payments. Unfortunately, I am not a FI guru. I am in the process of gathering lower level requirements.  The users have told me they use FF.5 to automatically import, post and clear their bank statements. However, they do not know what is going on behind the scenes. They are unsure if payments are created. I have been trying to piece together what is happening. Below are the steps I think are happening and how it would interface with GTS. I know that FF.5 is customizable, so it depends of course on how it is customized.

  1. The bank statement is received from the bank.
  2. The bank statement is pre-processed to make it importable for FF.5
  3. FF.5 is run.
  4. Incoming payments (document type FIIN) are created from the bank statement.
  5. The incoming payment is transferred to GTS.
  6. GTS screens the vendors, banks, and additional partner functions on the incoming payment for SPL and embargoes.
  7. If there is a hit, GTS sends the block back to FI.
  8. If the incoming payment is blocked, no further processing on the incoming payment takes place unless the block is cleared by the compliance team.
  9. If the incoming payment is not GTS blocked or its GTS block is cleared, the incoming payment is posted.
  10. If the incoming payment is not GTS blocked or its GTS block is cleared, the incoming payment is cleared against the invoice.

Does this look about right?

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1 Answer

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    Former Member
    Sep 23, 2015 at 03:05 PM

    Hi Mike,

    This process looks good to me, .only concern on point # 7, In 1st instance GTS sends block to FI, post this Compliance team review the block and found it is a false hit and they released it, so how are you going to communicate this back to FI, as this will not be communicated automatically to FI.

    Rest all looks good.

    Regards,

    Vikas Singh

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