27 Jan Keeping track of the cookies
In 2020 South Africa’s media was filled with reports of fraud, corruption, and maladministration at all levels of the country’s private and public sectors. In a business environment that is increasingly sophisticated from a technology perspective, one could be forgiven for thinking that this kind of behaviour should be on the decline. This is because technology can be effectively used to address these risks. Reality does not seem to bear this out.
Limiting the misdirection of funds.
Mettle has made a significant investment in time and money into a solution provider that can assist in eliminating these kinds of nefarious activities. Established in 2011, G-PAY™, which stands for “guaranteed payment”, provides patented payment technology solutions to various industries. Its solutions support the ability to configure pre-defined process flows to initiate and process payments and to electronically manage and control funds for specific, predetermined utilisations. G- PAY™ is an authorised payment services provider enrolled as a systems operator with the Payments Association South Africa. Its solutions provide full integration to the banking services of ABSA Bank Limited, First National Bank, a division of FirstRand Bank Limited, Standard Bank Group Limited, and Nedbank Limited.
Reducing human intervention.
G- PAY™’s Capital Solutions and Fund Management Solutions offer users the ability to manage payments such that they can only be made to pre-authorised entities for specific purposes. For example, funding provided for a property development or the acquisition of equipment can only be used for payments to pre-authorised suppliers of specific materials or equipment. Through its Transactional Processing Solutions, it can report on such funds as may be required by the managing entity while also offering the ability to provide dashboard views, alerts and notifications.
Furthermore, its cloud technology solutions offer centralized access to information, although processing can be done on a decentralised basis if required. Through these solutions G- PAY™ offers its clients the ability to automate several processes, add controls and mitigate risk by reducing human intervention that can be used to ensure compliance.
It is not unreasonable to hope that the management of private and public entities will take steps to make use of solutions such as this to limit the misdirection of hard-earned funds by corrupt individuals.
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