Real-time clearing (RTC)

BankservAfrica’s real-time clearing service allows customers to move single credit payments in real-time to beneficiaries 24 hours a day, 7 days a week, 365 days a year. 

This real-time clearing system is integrated with the Central Bank settlement service which 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.

How it works
Features

Real-time credits

The online real-time credit push payment means 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.

Output to banks

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

Service windows

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

Processing windows

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

Escalation procedures

Full internal and external escalation procedures are in place.

Problem resolution

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

MIS service and reports

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

Service manuals

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