In today’s complex global financial marketplace, payments come to financial institutions in many different formats and standards, making the task of identification, validation, transformation, and downstream routing into the firm’s payment or enterprise resource planning (ERP) system extremely time-consuming, costly, and fraught with risk. Firms require quick, efficient, easy, and embedded preprocessing to reduce the time, cost, and risk of payment initiation. Efficient payment preprocessing also leads to faster technical onboarding that improves customer service and helps firms to grow their business.