Veracious Electronic Fund Transfer Debit

Automate recurring debits with zero paperwork, full compliance, and seamless integration.
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Robust Payment Engine for EFT Debit

The EFT Debits module automates the debit-side of electronic fund transfers, particularly focusing on pull-based transactions from corporate accounts. It enables rule-driven scheduling, validation, and seamless integration with core banking systems, ensuring reliable and timely debiting of customer accounts. The module supports holiday-aware processing, error handling, and compliance with transaction regulations. 

Pull Data Scheduling & Execution

Automates data pull from corporate systems using rule-based and holiday-aware schedules.

Transaction Validation & Lifecycle

Performs state transitions and validations for EFT debit transactions using a configurable rule engine.

Core Banking Integration

Provides real-time customer data lookups and automated posting of debit transactions into core banking systems.

Error & Exception Handling

Manages posting failures, validation logs, and retries to maintain transaction integrity.

Geographical Compliance

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

GSS has Central Bank specification compliance in the following countries

Veracious EFTD serving banks since 2008

India

Kenya

Uganda

Tanzania

Rwanda

South Sudan

PreTruncation

DRC

PreTruncation

Bangladesh

Features

Trigger debit instructions from corporate systems using rule-driven pull processes, scheduled and adjusted based on business needs and holiday calendars. 

Ensure transaction integrity with a flexible validation framework that operates at the application, product, client, and country levels, aligning with compliance standards. 

Identify, log, and manage posting failures or mismatches with built-in recovery tools to ensure smooth processing and operational resilience. 

Simplify file operations with tools to download, update, and manage exchange files, complemented by a document viewer for transaction-linked data visibility. 

Veracious EFTD Platform Features

Message Engine

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

GL Account Management

Universal Master Setup to manage Debit, Credit, Pool, Settlement, Charge,Tax Accounts

Exception Processing

Universal payment hub feature that allows for configuration of exception flows, automatic retry counts, manual processing

STP Integration with Bank Ecosystem

All integrations from Channels, to Core Payment Engine to internal Bank landscape systems and Payment Network are integrated via Straight Through Processing and Straight Through Exception handling eliminating manual processes wherever possible

Intelligent Routing

Rule based routing considering Customer, Network and Bank specific conditions

Communication Setup

Integration to Email, SMS Gateways through API's and custom integrations to KAFKA streams for internal system updates are all possible -there is no restriction. Each notification can be configured based on any event

User Role Management

Comprehensive Role based privileges with ability to integrate to third party systems. LDAP, Open ID integration supported

Integration Management

Extensive Setup for all Integration endpoints

Scheduler Process Management

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

Rule Engine

Universal Rule engine is applied to configure any business rules / workflow processes with ease.

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