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November Changelog

This month we shipped new updates including improved bulk imports, support to filter by return type, and naming approval rules.

Matt MarcusCPO

It was another busy month for our product and engineering teams. Aside from announcing our support for the Signet network, the teams have made several updates and improvements to our web application. Here’s what shipped this month.

Support Wire IPDs and ACH Origination at Bankprov

Customers of Bankprov now have support for ACH origination and wire IPDs.

Support Same Day EFT at RBC

We now support same day EFT at RBC. This means customers originating or receiving an electronic payment can settle intraday rather than wait normal settlement times.

Naming Approval Rules

Approval Rules can now be named, just click edit and input a name for any approval rule. Names are optional and if left unnamed, will be shown as the default Rule #N. This will help customers organize their approvals and improve readability.

Screen: Update Rule

Improved Bulk Imports for Payment Orders, Counterparties, and Expected Payments

We have made some major improvements to our bulk import experience across the dashboard. You can now upload files in multiple types such as .xls, .csv, and more. Errors will be shown to you in the cells and rows, making it easy to identify problematic data. You can even edit data inline before uploading should you wish to make corrections or modifications.

To access this feature, you can select the Bulk option when creating a new resource. For Payment orders, customers can go to “Payments” in their left hand navigation bar, and in the top right corner of the main display click “New Payment Order.” This will redirect to a new page, and in the top right corner, there is the ability to toggle to “Bulk Payment Order.”

Screen: New Payment Order

After clicking “Import Payment Orders,” at the top of the page, a modal will load and ask for the bulk file (.csv, .xls, or other spreadsheet forms). The modal will map the columns for accuracy and flag any inconsistencies which can be manually corrected; when the file looks good, you can submit and see the results in the list view for the uploaded resource.

Tying Virtual Accounts to Ledgers

A Virtual Account can be tied to two Ledger Accounts in order to track the balance of funds that have flowed into the Virtual Account. When a payment enters a Virtual Account, a Ledger Transaction will automatically be created debiting “debit_ledger_account_id” and crediting “credit_ledger_account_id”.

Filtering by Return Type

Customers are now able to filter their payment orders by Return Type. As we continue to support more return types, this update is helpful for customers who have different operational teams manage returns for separate payment types.

Screen: New Report with Return Type

New Filters for Internal Accounts API

Now customers can filter their Internal Accounts by currency, payment type and direction, and more. This will help developers successfully complete their Quickstart guide as they start using our product.

Allow Users to Update IPD Metadata

Customers can now update Incoming Payment Details (IPDs). Currently this field is completely unused as Modern Treasury creates the IPDs and there is no API endpoint for a customer to set metadata themselves. Now customers will be able to set values in the IPD’s metadata to track which ones they have processed via a tentative reconciliation event vs a completed one.

Next Steps

If you have any questions or feedback about any of these updates, or if you’re interested in trying one of Modern Treasury’s payment operations products, get in touch.

We are also continuing to hire engineers who are interested in building the next generation of payment operations software. You can find out more about opportunities on our careers page.

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