On Blockchain

Smart Recon & Settlement

Current State - Payments

E-CommercePayment Gateway

Dubai Payplugin page

Banks

Direct Debit

Debit Cards

Credit CardsPaymentGateway

E-Dirham

DSGInstantaneous transfer to DSG

account in Bank

In each Issuer Bank

38Government

Entities

Pay Recon Settle

Current State - Reconciliation

E-Commerce Payment Gateway

Banks

Transaction Files from Issuer

Bank, NI, Etisalat ,e-dirham

RECON LEGWith Processors

Exceptions Manual Upload

RECON LEGWith Entities

Download Report & Reconcile at their

end Auto/Manual

Recon done by DoF Teams

38Government

Entities

Pay Recon Settle

Current State - Settlement

Department of Finance

Money transfer in single account with narration indicating source

Banks

38Government

Entities

Days to settle with Govt.

Entities

E-CommercePayment Gateway

Pay Recon Settle

Future State – Instant Recon & Settle on blockchain

Govt Entities

Instantaneous

position of

settlements

Banks

Smart Contact

SettlePay Recon

Future State - Recon

All PartiesInstant Reconciliation Situation

View Transaction Status of block chain

View changes by each parties

Total Reconciled transactions and amount (Entity/ Processor wise)

Identify Failed transactions.

EntitiesAdditionally, see settled funds and pending settlement funds position in real time Instantaneous

Real Time

RTA, bill# XYZ, 500 AED,387488327384738xyx,Status=initiated Received Auth Auth2 Reconciled

Pay Recon Settle

Future State – Recon – Fully Automatic

Money transfer in single account with

narration indicating source

Batch Id on

Blockchain

Settlement Bank

Step 1: Auto Scheduler component creates batch at regular intervals and alerts for

payment to the DoF Account with AMOUNT

Step 2: Aauto from settlement bank on receipt of funds

RTA, bill# XYZ, 500 AED,387488327384738xyx,Status=initiated Received Auth Auth2 Reconciled

Settled Settlement Initialized

Account #

Pay Recon Settle

BanksA component see the settlement bank DoFaccount position and based on payment transferred with block chain id in narration and sender matching info initiates the fund transfer to Government entities

Smart Contact

Initiates direct payment instruction on batch initiationLocal Transfer IBFT etc

Smart Contact

Dubai Pay RTART A Account #ePay Fees [%,fixed,pertran]Others

From To Account Amount Narration

DoF (Department of Finance)

RTA [IBAN=2923843948]

20,0000 Collections

DoF (Department of Finance)

ePAY 1,00 Fees

Participants

40Government

Entities

Dar Al Ber Society

Beit Al Khair Society

Awqaf and Minors Affairs Foundation

Dubai Courts

Dubai Airports

Dubai Civil Aviation Authority

Dubai Cares

Dubai Corporation for Ambulance Service

Dubai Chamber

Dubai Civil Defense

Dubai Culture & Arts Authority

Department of Economic Development

DEWA

Dubai Financial Market

Dubai Holding

Dubai Municipality

Dubai Health Authority

Dubai Police

Dubai Statistics Center

Department of Tourism and Commerce Marketing

PCFZC-Customs

Hamdan Bin Mohammed Smart University

International Humanitarian City

Index Holding

Al Jalila Foundation

Knowledge and Human Development Authority

Legal Affairs Department

Dubai Land Department

Nuserv Online Tender Services LLC

Mohammed Bin Rashid Housing

Establishment

Ports, Customs and Freezone

Corporation

Roads and Transport Authority

Society of Engineers

Dubai Public Prosecution

Noor Dubai Foundation

Zakat Fund

Department of Finance

DUBAI HEALTHCARE CITY

AUTHORITY - REGULATORY

Hamdan Award

Emcredit Limited

Payment processors

NEO (Network Online)

EPG (Etisalat Payment Gateway)

Banks for Direct Debit (Total 6)

ADIB

ADCB

CBD

Dubai Islamic Bank

Emirates NBD

Union National Bank

Emirates Islamic

Naqodi

e-Dirham

AMEX

NI

Government Entities Payment Processors

What we want to achieve?

Eliminate Friction

Reconciliation time reduced from T-1 to

instantaneous

Settlement period reduced from max 45 days

to near real time.

Easy onboarding of new participants

Exceptions visible in real time

Set up first “future-state” building blocks

Save time and cost

Increase end user customer satisfaction

Embracing latest technology trends

System Benefits

Reduction in operations cost

Clear visibility of Funds

Friction elimination

Smarter processing

Transparency

Automated system with

minimal human intervention

required

Smart Governance

Exceptions visibility in real

time

Savings in operations cost

Easy on-boarding of new

participants

Increased System

reliability

Transparency

Exceptions visibility in real

time

More satisfied customers

Exceptions visibility in real

time

Smarter settlements and

near real time availability of

collected funds.

More Transparency

Inline with Dubai broader

vision on efficiency and

Blockchain enablement

Government Entities

Cipher – Under the hood

A Glimpse of the Solution

© 2017 Avanza Solutions. All rights reserved.

Thank You