EFT Solutions

The Sybrin Electronic Fund Transfer (EFT) suite provides banks with a well-designed, modern, reliable, secure and comprehensive EFT processing system. Sybrin’s range of EFT products provides banks with the ultimate solution to process bulk payment files whether they are direct credit or direct debit files.

Corporates can use Sybrin Corporate-To-Bank Smart Client to submit bulk payment files such as payroll, accounts payable, direct debits, and direct credits efficiently and securely. The Sybrin Corporate-To-Bank module helps a corporate to track and reconcile each transaction within a payment batch. The corporate can view the transaction history of every transaction per a batch whether the transaction is in a status of successful, failed (with detailed reasons), or Uncleared. The module also gives the corporate the ability to generate reports for each batch in various formats (PDF, Excel, CSV or fixed width).

Branches can use Sybrin’s branch solution to manual capture individual RTGS and EFT transactions from clients at a front office, submit electronic bulk payment files brought into the branch on a disk by a corporate, capture bulk payment files from paper records at a back office, and imaging of EFT customer instructions and direct debit mandates to a central processing center for further processing.

The Sybrin Corporate-To-Bank interface and Sybrin Branch Solution use the Sybrin Communication layer to connect to the Sybrin core processing modules namely the Sybrin EFT Switch and Sybrin Direct Debit Manager. The Sybrin communication layer allows the interfaces to connect to the core modules via variety of protocols namely TCP/IP, HTTPS, and SFTP.

The Sybrin EFT switch is used to validate, sort, and apply journals for any EFT transaction that are received from the Sybrin Corporate-To-Bank module, Sybrin Branch Solution, RTGS, ECH, or any other system.  The switch integrates seamlessly with any core banking system by using the ISO8583 protocol. ISO88583 is an international financial standard for financial transaction messaging and is the general accepted standard for card transactions. The Sybrin SMS/Email gateway also works in close conjunction with the EFT switch to send out sms or email notifications as soon as accounting journals are processed onto the core banking system. The Sybrin EFT switch also integrates with the Sybrin Direct Debit Manager to validate that direct debit transactions against the approved direct debit schedule that has been recorded using the Sybrin direct debit manager.

The Sybrin Direct Debit Manager is a comprehensive, well designed, reliable Direct Debit Management system.  The Sybrin Direct Debit Manager allows you to define direct debit plans, maintain account and transaction histories for accounts and receive and process Direct Debit submissions. The Sybrin Direct Debit Manager works in close conjunction with the Sybrin Corporate-To-Bank Smart Client and Sybrin EFT switch to fully automate collection batches.