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Strategies to handle Payment issues in T24 Core Banking

The main reason for duplicate payments is that the file upload is executed multiple times. This happens when the file upload service is stuck, and the bank tries to upload the file again. Depending on your T24 configuration, some payments could be executed twice.

Measures to handle and avoid duplicate payments?

  1. There is an option for declaring what kind of payments are set to be duplicated in T24. So, if the payment is executed twice, the second set of payments will be declared duplicate in T24.

  2. Introduce the first level of authorization in payments to confirm the transaction.

  3. Execute Priority reversal of duplicate transactions.

Checks for transaction posting

Reviewing your transaction posting configuration from time to time is a good idea. You could consider the following:

  • Usually, if certain conditions are not met, the transaction should throw an error and be stopped. 

  • In some situations, the checks will be done in version routines. 

  • If we are unaware of the functionality of version routines and implement the checks in a different routine, the error will be thrown, but the transaction will still be posted.

  • In this scenario, be very careful when using the auth routine.

Payment rerouting issue for invalid customers

Some of the substantial legitimate transactions will then be rerouted to different accounts with smaller transactions. Sometimes, these accounts need to be validated. 

To avoid payment rerouting issues, you could:

  1. Implement posting restrictions on accounts.

  2. Run KYC while onboarding customers.

Payment rerouting issue for valid customers

What happens if the KYC is valid, the transaction is legitimate, and these small transactions are used for illegal things?

Such not-allowed transactions are an international issue, and FCM/AML is there to embark on this issue to a certain extent. Apart from AML, we have different regulations and agreements between the banks/countries to share the transaction key with the regulatory agencies.

We are a team of T24 Transact Core Banking experts. Happy to review your payment configuration to ensure you are protected from such annoying problems.

Keep up the great work! Happy Performance Engineering!

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