Solid Partnerships to Empower Banks
SADAD has transformed the landscape of electronic payments for banks, eliminating the need for separate link channels for each biller. Previously, establishing and managing these channels proved burdensome and expensive for banks. By unifying the linkage requirements, SADAD has significantly reduced operational costs.
Furthermore, SADAD's standardization of technical specifications for all billers has relieved banks from the arduous task of developing and maintaining separate linkages. This streamlines processes and eliminates the need for redundant efforts.
In terms of cost reduction, SADAD's automated payment matching system has proven invaluable. Previously, banks had to manually match payments, incurring additional expenses and facing the risk of errors. With SADAD, the matching process is automated, resulting in cost savings and fewer errors.
Additionally, SADAD's provision of real-time updates on bill payments empowers banks with accurate and current information. This ensures error-free transactions, minimizes the risk of customer complaints, and facilitates smooth operations for banks.
SADAD Features for Banks:
- Reduced Operational Costs: SADAD unifies the linkage requirements for all banks, which means that banks no longer have to maintain separate link channels for each biller. The system embodies the central matching authority with banks and billers, as it transfers funds in the accounts for the benefit of each beneficiary as requested.
- Reduced Matching Costs: SADAD automates the matching process, which can save banks time and money.
- Increased Accuracy and Reliability: SADAD provides real-time updates on bill payments, which can help banks to avoid errors and to provide their customers with the most up-to-date information.