4-Eye Verification


 

4-Eye Verification:

  • Validation by a second user of an action taken on a payment by a first user.
  • 4-eye verification can be invoked from another service (e.g. manual repair, manual entry).
  • 4-eye verification can be done for an action taken on an Interchange, Instruction or Transaction.
  • Actions a user can take:
    • Approve: the action which required 4-eye verification is executed
    • Decline: the action which required 4-eye verification is not executed and needs to be performed again
  • Types of 4-eye verification can be extended.
  • 4-eye verification with rekey for manually entered payments.

Standard Settlement Instructions (SSIs):

  • SSIs indicate the preferences of banks via which correspondent bank(s) want to receive payments.
  • Preferences are published for each currency in which the bank can receive payments in.
  • When a bank tries to reach another bank, it will:
    • First consult the other bank’s SSI to search for its preferred correspondent bank(s).
    • Enrich the payment with the agent(s) found

SSI_enrichment


 

 

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