Payments Hub

Payments Hub

Veracious
Payments
Hub

Payments Technology
Consolidation,
Modernization & Innovation
on a Single Platform

Drivers

The Banking ecosystem is evolving at a rapid pace – challenger banks, neo-banks and fintech players are offering overlapping and competing services, and able to deliver more customer first approaches then most incumbent banks at a faster pace.

Existing Technology landscape – particularly in the payments space is heavily siloed and archaic.

Complaince to country specific regulations demands different dedicated solutions for each geography with tremendous effort required to update and enhance as per each country standards.

Rising tide of Real Time Payments and other new payments instruments puts Banks on the edge to innovate and adopt newer payment rails and technologies faster and better.

External factors like Open API Banking, newer customer engagement channels, all demand better ways to manage and execute overall flow from point of transaction origination to point of transaction execution.

Veracious Payments Hub

The world’s most comprehensive Low Code Framework enabled
Payments Platform that enables the Banks to customize and deploy
Banking Payment Rails.

Design

  • Low Code based payment platform development
  • Functional Dynamism in core Architectural Design
  • No-Code – Business Rule Setup for easy modification & enchancement of workflows
  • Transaction Journey View for each transaction -Activity Logs
  • Powerful Maker checker process
  • Built using best in class third platform reliable, horizontally scalable technogy stack
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GRMI Logo Northern Block
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Vertisize logo

Deployment

Location

On Premise

Location

Cloud

Location

As a service

Location

Hybrid deployment models

Location Location Location

Customer Success

Equity Bank


Equity Bank is on of the Leading Banks in East Africa – with the most number of accounts in Kenya and operations in Uganda, Tanzania, Rwanda and South Sudan. All retail and corporate Cheque, EFT Debits, Credits, Mandates and RTGS for various subsidiaries are executed on the Veracious Payments Hub Platfrom.

Location

Key Highlights


  • Single, ISO 20022 compliant application environment for mutiple payment instruments
  • Tight integration with Finacle Core Banking
  • Following ISO 8583 posting standards for high performance
  • Dynamic workflows to meet Bank requirements
  • Application designed to follow Equity 3.0 Standard – providing common service capabilities to all subsidiaries run by the Bank
  • Single application platform with comprehensive reports and dashboards to view all transactions across different instruments
  • Extensive Dashboards to show Liquidity position of Bank across different fund sources – single view for entire bank

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