Startup Idea: Universal Payment Data Formatting Software

Startup idea to develop a software that has a comprehensive library of payment formats. The software should be able to take data from an ERP system and reformat it to fit the unique requirements of different banks, countries, and payment types (ACH, EFT, Check, etc.).

We send electronic payment file banks on daily basis. Payment data comes out of our ERP system. However we need to reformat the data for every bank, country and payment type (ACH, EFT, Check, etc.)

It would be great to have a software that have a library of all payment formats and able to translate our data to the layout bank can process. We tried to develop a software internally. However it hasn’t been a success. We need more resources and time which is not feasible for us.