Veracious Electronic Fund Transfer Credit

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

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), 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 Payment Hub and EFTC modules can be configured for any country specification

GSS has Central Bank specification compliance in the following countries

Veracious EFTC serving banks since 2008

India

Kenya

Uganda

Tanzania

Rwanda

South Sudan

PreTruncation

DRC

PreTruncation

Bangladesh

Key Features

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

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

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

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

Veracious EFTC 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.

Instant Payment Platform

Cheque Truncation System

Mandate Management System 

Standing Order Management

Real Time Gross Settlement 

Electronic Fund Transfer Debit 

Electronic Fund Transfer Credit

Cross Border Payment Platform

MT-MX Converter 

Salary Engine

Document Management System