Settlement Instruction in Outbound Transaction Processing refers to the step where the system determines and records how and through which channels the payment will be settled.

• If the SSI Label value is entered during manual input / given in the SPS request, the system validates whether SSI Label is valid or not by checking the label value for the combination of Customer, Network Code, and Transfer Currency combination in the Settlement Instruction Detailed (PMDSSIMT). If there is no valid SSI Label found, the transaction moves to Settlement Review Queue (PQSSSIQU):
  • If the SSI Handling field is set to Default And Verify, the transaction is routed to the Settlement Review Queue (PQSSSIQU) for user verification.
  • If the SSI Handling field is set to Default, no verification is required, so the transaction proceeds directly to the Settlement Review Queue.
  • If the SSI Handling field is set to Not Required, the transaction also moves to the Settlement Review Queue without verification.
• If the SSI Label value is not entered / not given in the SPS request, the system does the SSI defaulting based on the Settlement Instruction preference (i.e., SSI Handling field) maintained at the Source Maintenance Detailed (PMDSORCE):

  • If the SSI Handling field is set to Default And Verify.

    If a transaction is received without an SSI label, and a default SSI label exists for the combination of Customer, Network Code, and Transfer Currency in the Settlement Instruction Detailed (PMDSSIMT), the system fetches the routing details and updates the transaction accordingly. The transaction is then moved to the Settlement Review Queue (PQSSSIQU) for user verification.

  • If the SSI Handling field is set to Default.

    If a transaction is received without an SSI label, and a default SSI label is available for the Customer, Network Code, and Currency, the system retrieves the routing details from the default SSI label. As no further verification is required, the transaction is moved to the Settlement Review Queue.

  • If the SSI Handling field is set to Not Required.

    The default SSI label is not applied to transactions received from this source.

• For Outbound transaction booked via SPS, if Customer ID is not given in the request and only SSI Label is present, the system derives the Customer ID from the debit Account and does the SSI Label validation.
• The Outbound transaction get enriched with SWIFT ISO Routing information maintained in the Settlement Instruction for the SSI Label. Below details of the transaction get enriched:
  • Creditor Details : Party details for pacs.008 (FI to FI Customer Credit Transfer) and Agent details for pacs.009 (FI Credit Transfer).
  • Creditor Account Details
  • Creditor Agent Details
  • Instructed Agent Details
  • Charge Bearer
  • Payment Type Information
  • Service Level Details
  • Instruction for Creditor Agent
  • Other Agent details - Reimbursement Agents / Intermediary Agents
  • Remittance Information