AVS real-time provides a valuable functionality for merchants and banks alike to verify customer details in real time by way of single item submission to BankservAfrica for verification. This means, for example, that a person completing an online application for vehicle finance will be able to verify details on-line, without holding up the process.

Verification of account and ID information supplied by clients.

Receive and process requests real-time, to allow verification to take place while the customer is present, to reduce the risk of fraud and rejection of financial transactions with incorrect bank account information.

Features and advantages

• Banks always receive a response:
  
  Originating bank always receives either a successful or unsuccessful transaction confirmation message. Some fields are currently unable to be verified by banks.
  
   

• Non financial verification:
  
  Reduce the risk of fraud and rejection of financial transactions, due to account detail errors by verifying customer bank account details.
  
   

• Interbank bilateral billing:
  
  BankservAfrica reduces the complexity for the banks by handling interbank bilateral billing on behalf of the banks by the 4th business day of the month.
  
   

• MIS service and reports:
  
  MIS is available via the BankservAfrica web information service (WIS) where management information can be accessed daily.
  
   

• Service level agreements:
  
  Issuing banks respond within 1 minute, enabling reliable service to clients. 
  
   

• Real-time processing 24 hours a day 7 days a week:
  
  Infrastructure efficiency promises availability.
  
   

• Participating members:
  
  The service has recently been developed by BankservAfrica and banks are busy with development projects in order to participate.