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Store banking info in Organization record

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UXPROD-4170 - Getting issue details... STATUS

Problem(s):

Certain libraries need to store bank account information in the ILS itself rather than in external accounts payable systems. This information is highly sensitive and should only be accessible by specifically authorized persons. Banking info will need to be transmitted to third-party accounts payable systems.

Requirements and Use Cases:

RequirementStatusUse Cases
Organization record with type "Vendor" can hold vendor banking data in a specific area of the record

PENDING

When a user creates a new Organization of type Vendor, that user should be able to enter bank-specific information.

Banking data in organization record includes the following fields

  • BANK NAME
  • Bank account number (Must accommodate IBAN #)
  • Federal Tax ID Number
  • Transit number (Must accommodate SWIFT #)
  • Modified data (Metadata)
  • modified by (Metadata)
  • Address (Required)

Bank information must include the following details

  • Bank account number (Must accommodate IBAN #)
    • Required
    • Alphanumeric (Could be special characters)
    • Character limit should be at least 50 Characters (Momentum allows 50)
  • Federal Tax ID Number
    • Not required
  • BANK NAME
    • Required
    • Alphanumeric
    • Character limit should be at least 60 Characters (Voyager allows 60)
  • Transit number (Must accommodate SWIFT #)
    • Required
    • Character limit should be at least 25 Characters (Voyager allows 25)
    • Alphanumeric
  • Modified data (Metadata)
  • modified by (Metadata)
  • Address (Required)
    • Must have specific formatting (3 line minimum)
Banking information can include multiple banking data. One of those Banking data can be identified as primary. Primary is used by AP system for payment and can be used to represent a brokers banking information.

VERFIED

For international vendors, the Bank information includes CONVERA account details because that is who LC will actually send money to. However, it is important that we also capture the bank information, IBAN and SWIFT codes for the vendor to complete the payment and display on invoice etc.
Banking data can reference a specific vendor address. The address details are stored with banking data so it is easy to retrieve.
For each vendor, the bank information must be associated with a specific address. Adress data is generally used as validation during the payment process and can cause payments to be rejected if inaccurate.
Bank information must be stored in a way that only authorized persons can view it. 

VERFIED

Librarian 1 is authorized to view and edit banking information and has unfettered access. Librarian 2 is able to view vendor information in general, but is not allowed to view banking information and therefore has no access. Ideally, there will be no indication to an unauthorized user that banking information is stored.

Librarians running reports and queries who do not expressly have access to banking information should not be able to query or view banking information.

Currently, users in Voyager are either able to edit the organization detail or not (no partial edit). There is a view-only that allows a user to see all vendor details (Including banking info).


Exchange program users would benefit from being able to see vendors but not their banking information. As exchange program details are stored in the vendor record.



Bank information must be available for output by authorized persons or to authorized systems

PENDING

The external Accounts Payable system relies on banking information stored in FOLIO rather than having it stored in the AP system. Banking information needs to be output to the AP system.
Bank information must be secured

PENDING

Banking information is sensitive and requires proper security measures
Bank information must be capable of handling international banks

Questions:

QuestionStatusConclusionComments
What fields are required?

OPEN


Account, routing, mailing address, electronic payment info
How is the data to be secured?

OPEN



Are there other regulatory or compliance standards involved?

OPEN



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