Real-time Clearing (RTC

By: Bankservafrica  11-11-2011
Keywords: Credit Payments

Customers are able to move single credit payments e.g. account payments in real-time (within 60 seconds) to beneficiaries – 24 hours a day, 7 days a week, 365 days a year – using BankservAfrica’s RTC service.

The system is integrated with the Central Bank settlement service, supports multiple settlement windows and includes the ability to force settlement when a participating bank’s daily exposure limit is reached. Access to a web-based transaction look-up facility, management information and intra-day exposure (IDE) values are part of the offering.

Features and advantages

The online realtime credit push payment means that beneficiaries receive money in their accounts and it is available immediately, saving time and inconvenience.

  • Interbank bilateral billing:

BankservAfrica handles interbank bilateral billing automatically on behalf of the banks which reduces the complexity for banks.

  • Intraday exposure service:

Banks can view their net settlement positions in relation to other banks by having immediate access to management information.

  • RTC MIS query lookup service:

Query management and payment tracking information is available to bank officials via the web to facilitate immediate problem resolution.

  • 24 hours, 7 days a week, 365 days a year service:

Around the clock service is always available, with client service being top priority.

The originating bank always receives a “successful” or “not successful” transaction confirmation message, prior to the release of the actual financial transaction.

Multiple daily cut off times are available to facilitate settlement as well as manage risks and exposure.

Management of risks relating to transaction limits for each processing window as per the RTC clearing rules.

Full internal and external escalation procedures are in place.

24 hours a day, 7 days a week, 365 days a year access to support with quick problem resolution and high system availability.

Comprehensive MIS is available online via the web or by way of reports.

Well documented easy to understand service manuals including documented SLA and technical specifications.

Keywords: Credit Payments

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