In an integrated financial environment, before a financial transaction can be issued to a client, it is necessary for the ERP financial system to have access to the most up to date financial information for that client. That information is initially registered in the system and must be transferred to the ERP financial system in order to fully support the financial integration. This information includes details of the participant along with details of the addresses and bank accounts that the participant may use to receive financial transactions.
In addition to the participant specific information, some case related information must also be communicated between the two systems to support the financial integration. A case provides the delivery mechanism for providing the financial transactions to participants. The ERP financial system must therefore provide the necessary delivery structures, equivalent to cases within the applicaiton, to enable delivery related data to be shared across the two systems.
This information, which is critical to the financial integration, is referred to as "Master Data".