Sybrin’s EFT Solution is designed to support a bank’s customer base through streamlining the electronic payments process by offering all the tools necessary to centralise transaction processing and STP through a single source centralised EFT processing unit.

SYBRIN'S EFT SOLUTION

Industry advances are increasing competition between financial institutions driving them to seek out highly sophisticated payment processing solutions that can help them to achieve a competitive edge. Sybrin's EFT Solution is designed to support all of the bank's needs by providing a streamlined payments process through the use of user and transaction interfaces for initiating EFT transactions.

Our solution thus allows the bank to create a central payment processing centre to ensure ultimate control, efficiency, and cost savings. The central EFT switch processes, sorts, enriches and validates all EFT transactions received from various sources. Additionally, the module also provides best practice process automation workflows and tracking for the processing of EFT transactions.

1
Save costs and increase your bottom line
Traditionally the process of paper-based funds transfer instructions and mandates is a demanding manual process prone to error and an element of risk clearing. In addition to other tangible benefits, electronic fund transfer facilities reduce the paper used and generate costs therefore decreasing expenditure.
2
Faster clearing times
With Sybrin's EFT solution the clearing time, which can traditionally take up to seven business days, will be considerably shortened due to the electronic nature of the transactions, which cut out paper processing entirely. Customers can use various means to initiate EFT payment, including Internet Banking, Cell Phone Banking and Point-of-Sales (POS) terminals.
3
A reduction in fraud and settlement risk
The ability to clear financial items electronically, reduces the risk of fraud and can help to reduce the levels of both settlement risk and liquidity risk. Sybrin's centralised processing solution keeps an electronic copy of EFT's and mandates at distributed locations, lowering the risk of loss due to a major security incident or accident.

No. of internet users in Africa grows by 6.5% every year

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