Banks provides its Fund transfer APIs to corporate clients to enable digital payments
directly from client’s ERP solution.Currently Fund transfer is a straight through process
without secondary authorization, i.e Bank’s corporate client can make payments to
vendors / salary disbursements / bill payments for any value of transaction.
The idea is to explore a second leg of Authorization – create access based approvals with 2
layered consent from client before transactions of higher value are executed and debited from
their Bank A/C.
Discussion