This service will enable Financial Entities to report qualifying Transactions for all Customers and then chronologically sort the activity, calculate any required GMF contributions, and return responses to each Financial Entity to withdraw from the Customer on behalf of DIAN.

The GMF Calculator meets the requirements of Law 2277 of 2022, article 881-1, which mandates that all Financial Entities must report Customer qualifying movements to a centralized service for daily aggregation and GMF contribution calculations. Our platform is built to efficiently meet these regulations and collaborate with others within the ecosystem to ensure GMF contributions can successfully be calculated.

The GMF Calculator will:

* receive Transaction submission files from Financial Entities
* preprocess the files to ensure the data can be sucecssfully processed
* chronologically sort and order the Transactions for pre calculation
* calculate the GMF contributions
* report back to each Financial Entity for their specific Customer
* provide summary, error and update reports for Financial Entities
* provide a portal for Customers to view their reported activity

The GMF calculator is responsible for aggregating all the activity from all Financial Entities that wish to report Tranactions. The scope is to provide the source of truth across all Entities so that no Financial Entitty is calculating GMF contributions alone, but is now across all Financial Entities.

The Financial entity will:

* identify the Customers that must participate in this service
* identify the Transactions that qualify for potential GMF contributions
* report those Transactions to the GMF Calculator
* respond to the reports from the GMF Calculator
* collect GMF contributions from the identified Transactions
* submit payment and relevant reports to the DIAN

The main change from previous operations is that now the calcuation part of the process is shared amongst all Financial Entities, opposed to just run at the single Financial Entity.

Financial Entities have sevral digital channels:

1 - Sign up for the Sandbox Dashboard at: [URL in here] for administration
2 - Submit Transaction activity via SFTP files
3 - Submit REST API requests to manage Transactions
4 - Edit and administer the Transactions via the Dashboard

Passport has built an ecosystem for Financial Entities to interact with the service and receive full flexibility for interacting with the service.

The GMF calculator can receive files from Financial Institutions throughout the day, from midnight to 2 a.m. the following day inclusive, thus creating a period of 26 hours for reporting information.

The Financial Institution has the flexibility to wait until after midnight to report the previous day, or to make updates throughout the day with a final charge after midnight to capture transactions until 23:59:59.

The system processes the files as they are uploaded to ensure that the data can be successfully imported and provide feedback, allowing the Financial Institution to correct errors during the same reporting period.
The Financial Entity has the flexibility to wait until after midnight to report for the previous day, or make several updates throughout the day with a final upload after midnight to capture transactions up to 23:59:59

The GMF Calculator is able to receive uploads from Financial Entities throughout the day - from midnight through to 2am the next day, thus creating a 26hr preiod to report information.

The Financial Entity has the flexiblity to wait until after midnight to report for the previous day, or make several updates throughout the day with a final upload after midnight to capture transactions pu to 23:59:59

The system digests uploads file as they are uploaded to ensure data can be imported successfully and provide timely feedback so that the Financial Entity can fix the errors during the same reporting period.

A reporting period is defined as a day of the week.

For example, Monday morning at 00:00:00 through to Monday evening at 23:59:59 is one reporting period.

The Transactions for that reporting period, Monday in the example above, are to be uploaded by 02:00:00 on Tuesday morning to be included in the calculations along side all the other Financial Entities.

"The latest files can be uploaded is 02:00:00 for the previous reporting period.

There is no early limitation on uploading files, a Financial Entity could upload a file at 00:01:00 for all the bulk transactions they processed at 00:00:00 if that scenario would help the Financial Entity report more efficiently. "

Financial Entities have the flexibilty to upload files as it suits them.

The Transaction activity could simply be uploaded at the end of the reporting period in one file, or could be split into multiple files uploaded throughout the day.

The split could be:

* by product type such as a file for SAVINGS Accounts and a file for Pre Paid Cards
* by time period so that a file is uploaded every 2 hours for the previous 2 hour window
* by activity so that a file is used just for reporting new Transactions or for returned Transactions
* by Customer first name so that a file is used for those names beginning with A - K, and then another file for L - Z
* by number of Transactions - such as a limit of 100,000 Transactions
* by size of File - such as 5Mb

The system has been configured to be flexible and so can be tailored to how the Financial Entity wishes to submit data to the service.

All Transactions for a Customer are sorted chronologically - across the different Accounts, across the different Financial Entities.

The time the Transaction is reported to the GMF Calculator does not matter, the service will order the Transactions by the reported Timestamp immediately before any GMF Calculations take place.

The order in which the Transactions are uploaded to the service does not impact the sorting process, unless there are multiple Transactions at exactly the same time for the Customer. In this scenario, First In First Out principles will apply and then the file upload time will be used to prioritise.

The response files to the Financial Entity are divided into two phases:

After each upload - if the Financial Institution performs iterative uploads during the reporting period, the service will pre-process the files to ensure that the contents are successfully imported. The format of these files is the same as the nightly files, but they don't include GMF calculations.

At 05:00:00am - once the GMF calculation period is complete, the answer files will be uploaded to the designated SFTP folder.

The format and structure of the output files can be edited within the File Configuration Panel, thus allowing each Financial Entity to ensure that the results can be read and processed properly.

Files are shared back to the Financial Entity in two phases:

After each upload - if the Financial Entity is making iterative uploads throughout the reporting peroid, the service will preprocess the files to ensure the contents are successfully imported. The format of those files are the same as the overnight files, but do not include any GMF calculations.

At 05:00:00am - once the GMF calculation period is completed, the output files will be uploaded to the nominated SFTP folder.

The format and structure of the output files can be edited within the File Mapper capabilities so each Financial Entity can ensure the outputs can be decoded and responded to accordingly.

The specific files and default contents can be found in the Developer Documentation portal here [Documentation URL].

Financial Entities will have the opportunity to create "File Mappers" via the Dashboard.

This capability allows customisation of how the information is shared with the service, and includes:

* file types being used - such as .csv or .txt
* separators such as comma, semi-colon or pipe
* file encoding to match latin characters
* column order of the files to match the default output from the Financial Entity systems

Sample files from the Financial Entity can be uploaded and then used to customise the mapper to make it as simple and as easy as possible for the Financial Entity.

Refunds and returns can be handled according to three different time windows:

Before 02:00:00 for the same reporting period - changes and updates to any Transaction can be made up until the 02:00:00am cut off without having any impact on the GMF Calculation service.

Outside the reporting period but within the same month - the new service will not change the way that Financial Entities currently handle changes to Transaction values for this period. However what will change is what can cause a refund, as a Customer may have multiple Accounts therefore a change at one Account could impact the calculations at a different Financial Entity.

However a Financial Entity handles that scenario previously - giving a temporary credit to offset any existing GMF collections, or ignores the GMF recalculation is what the Financial Entity can do - Passport is not providing advice on how to handle that scenario.

Outside the reporting period, and outside the same month - as above, the Financial Entity should handle that using the same process being currently used. The new GMF Calculation service does not define how those should be handled, however it does create overlaps with other Financial Entities whose activity may impact the Transaction activity at your Financial Entity.

Regardless of the reporting window, the Update Report File as defined in the Developer Docs will be used to communicate any changes to impacted Transactions for the Customer and the new GMF calculations for those Transactions.

The Financial Entity must provide an internal reference - the Transaction Reference - in the files being submitted to the GMF Calculator.

That is used as the control identifier to uniquely identify a Transaction, and avoid any duplicates. The Transaction Reference, combined with the Action column, have set combinations that allow the Financial Entity to add, edit and delete a Transaction.

If a unique Transaction Reference has two entries to add a new Transaction, the second will be rejected with an error that a Transaction already exists with that Transaction Reference.

Passport employs best in class security for the service, defined by:

* VPN Support for Financial Entities that wish to create a secure tunnel between both services
* SSH for securing traffic outside of the VPN tunnel
* PGP Keys for encrypting files
* Multi-factor Authentication for email and phone numbers on the Dashboard
* OAuth and Access Tokens for API Connecitivty
* Team and Role based Access Management for permission based controls
* SSO for controlled access (future expansion)

Passport understands the security requirements and can have discussions with the security teams of Financial Entiteis for any specific requirements.

Support is available throughout the operational process of the service.

This includes pre-sales demonstrations and overviews, implementation guidance and Sandbox issue handling, through to Go Live Check List preparation and then a sophsitcated support network once the service is launched.

Support is available via Email, WhatsApp and Service Desk to ensure Financial Entities are never unable to receive the support needed to design, build and operate an integration with the GMF Calculator service.

Follow along with the Change Log - that will provide weekly updates to new features that are released into the Sandbox for testing and exploration.

Reach out to the team at sales@passportfintech.com for a formal walkthrough of the roadmap and future updates that will be announced!

The first version of the Sandbox will be released on June 24th for sign up and exploration! We are excited to have Financial Entities use the service and provide feedback as new capabilities and features will be continually added.

Click on one of the links on this page and you'll be taken to the Sign up process for the Sandbox! Or reach out to the team at sales@passportfintech.com and one of our team will be happy to speak through the process with you!