The Chanel system of Direct Transact is a proprietary system built to receive electronic files for the processing of Fund Transfer instructions from various sources and to validate the contents of the files to prepare input to the National Interbank Operator for processing to other participants in the EFT Payment Stream. Instructions can be warehoused and processed on any business date in the future or for same day value. The system has the ability to perform a Check Digit Verification (CDV) routine and to report any erroneous instructions to the user for correction. Pre-defined limits are being checked for security and fraud prevention purposes.

Multiple files can be received from a user and file layouts can be customised to accommodate specific user requirements. The system is fully automated and is monitored to ensure the timeous delivery of files. A process of beginning-of-day and end-of-day is followed to ensure that all files received from users are being acknowledged and balanced before the input window closes. The system operates in a secure environment and file transmission is done via a secure file transmission protocol. Data is stored on a SQL database and a full back-up process, to store data securely, is in place. Various basic reporting for users is available, and these can be customised and expanded according to specific requirements. The system operates under the guidelines of the Regulator and any changes or enhancements from the Regulator are constantly implemented.