Settlement & Safeguarding Banks
Each partner bank holds segregated customer funds in a dedicated trust/safeguarding account. AuraTap maintains no beneficial interest in these funds. Funds are held on behalf of customers until settled or withdrawn.
Fund Segregation Guarantee
All customer funds are held in legally segregated safeguarding accounts at licensed partner banks. These funds cannot be used for AuraTap operations and are protected in the event of insolvency, in compliance with EMI safeguarding regulations.
Partner Banks
DEMO| Bank Name | Country | Account Type | Currency | Current Balance | Merchant Payouts Today | Consumer Withdrawals Today | Status |
|---|---|---|---|---|---|---|---|
Ghana Commercial Bank | 🇬🇭 Ghana | Safeguarding Trust | GHS | ₵5,200,000.00 | ₵342,500.00 | ₵187,200.00 | Active |
First Bank Nigeria | 🇳🇬 Nigeria | Safeguarding Trust | NGN | ₦3,800,000.00 | ₦1,250,000.00 | ₦620,000.00 | Active |
Standard Bank | 🇿🇦 South Africa | Settlement | ZAR | R1,950,000.00 | R415,000.00 | R98,500.00 | Active |
Stanbic Uganda | 🇺🇬 Uganda | Safeguarding Trust | UGX | USh980,000.00 | USh156,000.00 | USh72,400.00 | Reconciling |
Correspondent Bank (USD) | 🌍 International | FX Reserve | USD | $520,000.00 | $45,000.00 | $12,800.00 | Active |
Settlement Cycle Timeline
DEMOTransaction Processed
Payment received and ledger entry created in real-time
Funds Safeguarded
Gross amount held in segregated safeguarding account
Settlement Queued
Net amount (minus fee) queued for merchant settlement
Merchant Payout
Payout executed to merchant’s registered bank account
Reconciliation Confirmed
Ledger and bank balances verified and matched
Transaction Processed
Payment received and ledger entry created in real-time
Funds Safeguarded
Gross amount held in segregated safeguarding account
Settlement Queued
Net amount (minus fee) queued for merchant settlement
Merchant Payout
Payout executed to merchant’s registered bank account
Reconciliation Confirmed
Ledger and bank balances verified and matched
Settlement SLA: Standard settlement is T+1 for domestic transactions and T+2 for cross-border corridors. Express settlement (T+0) is available for premium merchants at an additional fee.
FX Exposure Management
Current open FX positions across corridors
Total Open Exposure
3,380,000
Across 5 pairs
Net P&L
-9,375.00
Unrealised mark-to-market
Hedge Coverage
3/5
Positions covered
| Currency Pair | Exposure Amount | Rate Used | Market Rate Now | P&L | Hedge Status |
|---|---|---|---|---|---|
| GHS/NGN | 125,000.00GHS | 72.4500 | 72.8200 | -4,625.00 | Covered |
| GHS/ZAR | 85,000.00GHS | 1.1800 | 1.1700 | +850.00 | Covered |
| NGN/USD | 2,400,000.00NGN | 0.00065 | 0.00064 | -2,400.00 | Open |
| UGX/GHS | 450,000.00UGX | 0.00340 | 0.00340 | 0.00 | Covered |
| ZAR/USD | 320,000.00ZAR | 0.0540 | 0.0530 | -3,200.00 | Expired |
FX positions arise when a customer pays in one currency and the merchant settles in another. AuraTap manages this exposure via pre-agreed FX provider rates with daily settlement.
Daily Reconciliation Report
Auto-generated at midnight — Report date: 2025-01-15
| Currency | Opening Balance | Credits | Debits | Closing Balance | Variance |
|---|---|---|---|---|---|
| GHS | ₵5,050,000.00 | +₵529,700.00 | -₵379,700.00 | ₵5,200,000.00 | ✓ 0.00 |
| NGN | ₦3,650,000.00 | +₦1,870,000.00 | -₦1,720,000.00 | ₦3,800,000.00 | ✓ 0.00 |
| ZAR | R1,890,000.00 | +R513,500.00 | -R453,500.00 | R1,950,000.00 | ✓ 0.00 |
| UGX | USh952,000.00 | +USh228,400.00 | -USh200,400.00 | USh980,000.00 | ✓ 0.00 |
| USD | $508,000.00 | +$57,800.00 | -$45,800.00 | $520,000.00 | ✓ 0.00 |
| Total (Mixed) | 12,050,000.00 | +3,199,400.00 | -2,799,400.00 | 12,450,000.00 | ✓ 0.00 |