The objective is to establish a direct host-to-host connection between Oracle Fusion Cloud and the bank (or banking group), eliminating the need for middleware or third-party integration layers. This initiative leverages Oracle Fusion’s native host-to-host capabilities to enable seamless, automated retrieval and processing of bank statements.

By removing dependencies on external integration platforms, the solution is designed to:

✅ Enhance operational efficiency

✅ Reduce latency in financial data exchange

✅ Improve data accuracy and security in reconciliation processes

This streamlined approach supports faster, more reliable financial operations while aligning with modern cloud-first integration strategies.

Pre-requisites:

• Transmission Configuration (SFTP_Get): Set up the transmission parameters with all required details, including:
  • SFTP server name and port
  • Server account credentials
  • SSH keys
  • Remote file name and local file directory
  • PGP decryption key and password
• Payment System Configuration: Configure the payment system with:
  • Appropriate transfer format
  • Linked transmission configuration
  • Bank statement file format specification

These configurations are essential to ensure secure, automated, and accurate exchange of financial data between Oracle Fusion Cloud and the banking partner.

Key Considerations:

1. SSH and PGP keys need to be uploaded in Fin ->Payments -> Import to be available in the Transmission Configuration. Please note, Key should not be more than 30 characters and should not have any special characters.
2. The SSH key should be saved with the extension .ssh.
3. PGP decryption/private key should be saved with ‘_private.asc’
4. The remote file name should be saved as ‘.xml.PGP’ in the case of an encrypted file.

Execution:
Once all the required prerequisites—such as payment system setup, transmission configuration, and bank statement file format definition—are successfully completed in Oracle Fusion, the next step is to initiate the “Process Electronic Bank Statements” scheduled process.

This process is executed with the following key parameters:

• Payment System: Specifies the banking network or protocol used for communication.
• Transmission Configuration: Defines the secure channel and credentials for host-to-host connectivity.
• Bank Statement File Format: Indicates the format (e.g., BAI2, CAMT.053) in which the bank statements are expected.
  Upon successful execution, Oracle Fusion will:
• Establish a secure connection with the bank using the configured host-to-host setup.
• Fetch the electronic bank statements directly from the bank’s system.
• Decrypt the received files using the defined encryption standards.
• Parse and process the bank statement data into the system for reconciliation and reporting.

Conclusion:
Implementing a direct host-to-host integration between Oracle Fusion Cloud and the bank eliminates reliance on third-party middleware, resulting in a more secure, efficient, and streamlined financial data exchange. By leveraging Oracle Fusion’s native capabilities, organizations can automate the retrieval and processing of bank statements, reduce latency, and enhance data accuracy in reconciliation. With proper configuration of transmission and payment systems, and adherence to key technical considerations, this approach supports modern cloud-first strategies and significantly improves operational agility in financial processes.