Sakobia Payment & Settlement Manager logo

Sakobia Payment & Settlement Manager

by Union Systems Limited · Since 1994
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Active1+ countriesCloud
Quick facts
VendorUnion Systems Limited
Year launched1994
StatusActive
Location7 Saka Jojo Street Victoria Island, Lagos, Nigeria.
Countries served1+
Languages1
Integrations
Free tier
Free trial
Contact salesYES

About Sakobia Payment & Settlement Manager

Sakobia Payment & Settlement Manager is a payment processing software from Union Systems Limited that facilitates efficient transaction management. It provides features such as transaction reconciliation, reporting capabilities, and multi-currency support so businesses can effectively manage their financial operations. Designed for organizations requiring reliable payment solutions, Sakobia helps simplify the payment lifecycle from initiation to settlement. It is compliant with industry standards, ensuring secure transaction processing. Key capabilities: transaction tracking detailed reporting multi-currency transactions integration with banking systems user-friendly interface Best for: financial institutions and enterprises that need reliable payment management and settlement solutions.

Sakobia Payment & Settlement Manager is a financial operations platform designed to help organizations streamline, automate, and manage their payment and settlement processes with greater accuracy and control. It centralizes the entire payment lifecycle, from initiation through authorization, clearing, reconciliation, and settlement, so finance teams can reduce manual work, minimize errors, and accelerate processing times. The system supports multiple payment types and formats, enabling businesses to handle diverse transaction flows within a single environment while ensuring compliance with internal policies and external regulations. Built‑in reconciliation tools compare expected and actual transactions, flag discrepancies quickly, and provide clear audit trails that improve transparency and accountability, which can be especially valuable for institutions handling high volumes of daily payments. Sakobia also offers customizable workflows and approval hierarchies so organizations can enforce consistent controls tailored to their operational needs, and reporting features give leaders real‑time insights into cash positions, settlement statuses, and performance metrics.

Pros & Cons

What users like
  • +Simplifies complex payment messaging standards migration, especially to ISO 20022.
  • +Reduces the need for expensive and disruptive legacy system replacements.
  • +Automates message translation between formats, improving processing speed and accuracy.
  • +Centralizes messaging logic and controls for easier governance and compliance.
  • +Supports reconciliation and matching, contributing to operational efficiency.
What users flag
  • Implementation and integration with complex banking infrastructures may require significant technical effort.
  • Staff may need training to manage and configure message transformation rules.
  • The product focus on ISO 20022 and SWIFT messaging may not address broader payment platform needs.
  • Requires ongoing maintenance as global messaging standards evolve.
  • Smaller financial institutions without SWIFT or ISO 20022 requirements may not benefit fully.

Features

Key features

Central Messaging Hub for Payments
Acts as an enterprise messaging system that handles payment message workflows for financial institutions.
ISO 20022 Migration Support
Helps banks transition from legacy SWIFT MT message formats to the ISO 20022 standard smoothly without changing existing core systems.
Automatic Message Translation
Converts payment messages between MT and MX formats to ensure compatibility across global messaging standards.
Message Generation and Validation
Produces and validates SWIFT payment messages according to regulatory and compliance requirements.
Authorization and Processing Control
Enables authorization workflows for payment messages before they are transmitted.
Middleware Integration
Works as middleware between legacy banking systems and external payment networks, reducing the need for deep system overhaul.
Reconciliation Functions
Supports processes like Nostro reconciliation, message matching, and chained business process workflows.

Additional features

ISO 20022 Compliance Tools
Provides components that help banks meet global messaging and reporting standards.
SWIFT Message Management
Centralizes generation, validation, translation, and routing of payment messages.
Reconciliation Engine
Assists with balancing accounts and matching transactions across systems.
Business Process Chaining
Enables workflows that link related payment activities together for end‑to‑end processing.
Legacy System Compatibility
Integrates with banks’ existing systems without requiring those core systems to be replaced.
Configurable Rules Engine
Allows banks to set rules for validation, authorization, and message transformation.

Pricing

Free trial
Free version
Request a quote
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Countries & Languages

1
Countries served
1
Interface languages
1
Billing currencies

Available in

Africa

Interface languages

English

Billing currencies

🇳🇬NGN

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