Wells Fargo & Co. has developed an application to adapt its treasury services portal easily with accounting systems from Oracle Corp.
The standardized adapter application, which the banking comapny is expected to announce today, often can be installed and tested in less than a week, enabling automated payables, receivables, cash management, and account reconciliation through Wells' online treasury portal.
Brad Stewart, a senior vice president at Wells and a group product manager in its wholesale Internet and treasury solutions unit, said Monday that the adapter uses standard Oracle programming interfaces to provide a direct interface to a bank's systems.
"It knows how to speak Oracle, it knows how to speak Wells Fargo, and it knows how to translate between the two," he said.
The adapter also augments Oracle's E-Business Suite with supplemental features, including a database of supplier information, such as whether a seller prefers to receive remittance information by e-mail or fax, he said.
The companies said the adapter is available now for the Oracle E-Business Suite 11i, version 11.5.10, and be will available soon for Release 12 and JD Edwards EnterpriseOne 8.12.
Wells and Oracle are planning to market the adapter jointly.
Tony Kender, a senior vice president in Oracle's global accelerate program office, said in a press release that the marketing efforts would target his company's midsize corporate customers.
"Historically, the automation of integrating applications with a bank's treasury management services was something only the largest organizations could handle due to time, expense, and complexity," Mr. Kender said.