Veracious
Standing Order Management

Automate fixed recurring payments with complete user control and flexible scheduling.
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Simplify corporate interaction and internal Standing Order management with ease.

Veracious Standing Order Management is a digital solution designed to automate fixed recurring payments based on instructions provided by the account holder (payer). These standing orders are scheduled to debit a fixed amount from the payer’s account at regular intervals (e.g., weekly, monthly) for a specified duration or until canceled. 

The system supports flexible initiation methods, such as via bank branches, online platforms, or phone, making it user-friendly and accessible. It simplifies the process of handling scheduled payments such as loan EMIs, rent, insurance premiums, subscriptions, and more. 

Standing Order Setup & Configuration

Allows customers to initiate standing orders with specific amounts, frequencies, and durations.

Recurring Payment Execution

Automatically initiates debits from the payer’s account on the scheduled dates.

Amendment & Cancellation Management

Enables customers to modify or cancel standing orders before or during the scheduled period.

Validation & Authorization

Validates account details, balances, and payment instructions before execution.

Geographical Compliance

GSS Payment Hub and SOM modules can be configured for any country regulatory specification

GSS has Central Bank specification compliance in the following countries

Veracious SOM serving banks since 2015

India

UAE

Kenya

Uganda

Tanzania

Rwanda

Bangladesh

Features

Streamline repetitive financial tasks with auto-scheduled standing orders that execute payments reliably and reduce manual intervention. 

Empower users with the ability to set payment amount, frequency, and duration—giving full flexibility over their recurring payment schedules. 

Allow standing orders to be initiated and managed via branch, internet banking, or mobile apps, ensuring convenience across all user channels. 

Allow standing orders to be initiated and managed via branch, internet banking, or mobile apps, ensuring convenience across all user channels. 

Veracious Corporate Capture

Corporate Portals – Remote Standing Order Management

Remote Deposit Capture is a unique product that enables the bank to scan and present standing orders for clearing with ease from various remote locations. The bank is extending its range of services enabling its branches, corporate customers and SACCO’s (In case of East Africa) to process standing orders from their location and send the electronic file to the bank enabling a quicker realization.

Benefits to Bank

New Customer Acquisition

An remote capture product can attract new clients who otherwise would not have banked with your institution.

Larger Wallet Share with existing clients

An remote capture service can enable your clients to consolidate their deposits with your bank, regardless of geographic coverage

Access to Greater Float

Larger volumes of standing orders often results in larger balances left in the account.

Reduced Processing & Clearing Costs

Banks which offer a Remote Deposit Capture service can now accept deposits from customers outside their physical footprint.

Benefits to Corporate

Accelerated Clearings

Present standing orders as they are presented the corporate for immediate clearing presentment

Improved Cash Flow

Accelerated clearings and improved availability result in improved cash flow and working capital for your corporation

Maker Checker controls to eliminate errors

Can adopt 4 eye / 6 eye principle as needed for approvals

Reduced Transportation Costs / Convenience

Substantial savings can be had from reductions in transportation expenses

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