When talking about bank connectivity there are always 2 things arising from the discussions with customers – bank file formats and protocols.
Bank formats are file formats in which a bank is able to receive payment instructions and return bank statements or payment statuses. Some of the most widely used are BAI, SWIFT MT, or XML ISO 200222 CAMT formats. The majority of companies are still using various formats in parallel although with the global ISO 20022 message standard, there is finally a viable option to have one single format. In SAP system, some of the formats are already pre-delivered or you can define them using customizing tools such as (Extended) Data Medium Exchange Engine. You may find more information about payment formats in Payment formats in SAP blog series.