SADAD is increasing the flexibility and options available to customers for paying their bills through electronic channels (both of their own bank as well as of other banks).
This will accelerate migration from paying bills at bank branches to paying them through electronic channels – resulting in lower costs to banks Banks currently construct and maintain as many interfaces as the number of billers they are under agreement with. In addition, each biller has different requirements in terms of update frequencies, business rules and bill formats. SADAD has a single standardized interface to each bank, thereby dramatically reducing the complexity and cost of interfacing SADAD is performing centralized reconciliation and settlement accounting on behalf of all billers and banks. , each bank used to reconcile all payments related to every biller and report to them. This would reduce the costs related to reconciliation and other back office activities significantly Increased reliability and accuracy of bill information from SADAD is contributing to a reduction in number of complaints and queries received by banks
