Veracious Electronic Fund Transfer Credit

Drive effortless fund disbursement for salaries, reimbursements, and bulk payouts.

Since 2008Serving banks

8 countriesCentral bank spec compliance

DisbursementsProduct family

Overview

Robust Payment Engine for EFT Credit

The EFT Credits module is designed to automate the credit side of electronic fund transfers, enabling banks to process corporate and retail fund transfers efficiently.

It supports multi-format file ingestion, rule-based validations, core banking integration, and compliance with local regulatory standards such as CHI specifications.

EFT Form Processing

Scans EFT forms (including image size) and applies rule-based state transitions and validations.

Integration & File Management

Downloads and updates exchange files, with support for local paths for branches/corporates and multi-format handling from different corporates.

Validation & Compliance

Enforces CHI-compliant field validations based on country specifications.

Audit, Lookup & Archival

Enables transaction journey tracking, audit logging, and archival for regulatory compliance and operational efficiency.

Geographical Compliance

GSS has Central Bank specification compliance in the following countries

GSS Payment Hub and EFTC modules can be configured for any country specification. Veracious EFTC has been serving banks since 2008.

India

Kenya

Uganda

Tanzania

Rwanda

South Sudan

DRC

Bangladesh

EFT Credit

Key Features

Configurable Rule-Based Processing Engine

Enable dynamic state transitions, validations, and workflow orchestration using a robust, rule-driven engine that adapts to specific business and compliance needs.

High-Value Transaction Authorization

Secure large fund transfers with an additional layer of approval, customizable for transaction thresholds, ensuring controlled and compliant processing.

Real-Time Core Banking Integration

Seamlessly connect to the core system for instant customer lookups and automated transaction postings, enhancing efficiency and accuracy.

Smart Onus & File Handling Support

Efficiently manage intra-bank (on-us) credit transactions and accept varied corporate file formats, with flexible options for local path file ingestion.

Veracious platform

Veracious EFTC Platform Features

Message Engine

A Universal Payment Hub feature that allows you to design and interface with every type of payment network, coupled with schema and message validation capabilities.

GL Account Management

A universal master setup to manage debit, credit, pool, settlement, charge and tax accounts.

Exception Processing

A universal payment hub feature that allows configuration of exception flows, automatic retry counts and manual processing.

Intelligent Routing

Rule-based routing considering customer, network and bank-specific conditions.

User Role Management

Comprehensive role-based privileges with the ability to integrate with third-party systems. LDAP and OpenID integration are supported.

Integration Management

Extensive setup for all integration endpoints.

Scheduler Process Management

The scheduler enables us to run scheduled jobs by marking the frequency, event and action to be performed.

Rule Engine

A universal rule engine is applied to configure any business rules or workflow processes with ease.

Communication Setup

Integration with email and SMS gateways through APIs, and custom integrations with Kafka streams for internal system updates, are all possible; there is no restriction. Each notification can be configured based on any event.

STP Integration with Bank Ecosystem

All integrations, from channels to the core payment engine, internal bank landscape systems and payment networks, are integrated via straight-through processing and straight-through exception handling, eliminating manual processes wherever possible.

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