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Xirag for BFSI

Xirag BFSI for collections, onboarding, premiums and payouts

For payments businesses and insurers: merchant onboarding, collections and mandates, premium schedules and renewals, claim payouts and reconciliation on the same core as every Xirag module, with named seats, maker-checker approvals and an audit trail you can prove.

Register for early access See the capabilities

BFSI capabilities are planned and run on Xirag Payments, which is in development in a sandbox. Every workflow works for people on their own. Agents are not offered at launch; they are provided on request later.

Xirag for BFSI · Money journeyDemo
  1. Onboard
  2. Collect
  3. Renew
  4. Reconcile
  5. Pay out
  6. Audit
  • OnboardingSub-merchant Asha Foods (demo): KYB checklist complete, settlement account verified
  • RenewalsRenewal premium paid inside the grace period; the due is settled
  • ReconciliationPolicy system extract matched to collections by policy number
  • CheckerClaim payout approved by the finance controller after the name check
Illustrative mock-up with fictional demo data; the steps are planned BFSI capabilities, not a live console.
Capabilities

BFSI ERP for payments businesses and insurers

Two kinds of financial business, one core: each area builds on Xirag Payments and on modules that already share people, departments, approvals and the audit trail.

  • Merchant onboarding and KYB

    A registry of sub-merchants with stakeholders, documents and a checklist of what is missing; going live needs a second person.

    Planned · builds on Payments, eSign

  • Settlement account checks

    A sub-merchant's bank account is verified with a holder-name match before approval, and the result is kept.

    Planned · builds on Payments, partner-backed

  • Product activation

    Requested and active products per sub-merchant, terms accepted, and the exact field or document still missing.

    Planned · builds on Payments

  • Collections and reminders

    Payment links, reminders on your cadence and follow-up of every amount due, on a collections desk.

    Planned · builds on Payments, Messenger

  • Mandates and auto-debit

    Mandate records through their lifecycle, with failed debits escalated to a person after repeated failures.

    Planned · builds on Payments

  • Sub-merchant settlements

    Settlements and their items filtered by sub-merchant, so you can follow what each one was paid.

    Planned · builds on Payments, partner-backed

  • Premium schedules

    Annual, half-yearly, quarterly or monthly dues per policy, each due becoming an order, a link or a mandate debit.

    Planned · builds on Payments

  • Renewals, grace and lapse

    Dues move through due, in grace, lapsed and reinstated, with the grace period set by you per product.

    Planned · builds on Payments

  • First premium with a mandate

    At policy issue, one hosted step collects the first premium and registers auto-debit for the dues after it.

    Planned · builds on Payments

  • Proposal deposits and free-look refunds

    A proposal deposit is refunded against its payment when a proposal is rejected or a policy is cancelled in the free-look period.

    Planned · builds on Payments

  • Claim, surrender and commission payouts

    Payouts carry policy and claim numbers after bank and name checks; commissions are paid in bulk, with clawback on cancellation.

    Planned · builds on Payments, partner-backed

  • Policy reconciliation and statements

    The insurer's policy extract is matched to collections, and premiums paid per policyholder are exported for the insurer's certificate.

    Planned · builds on Payments

Beyond a payments console

What one agentic core changes

A console shows transactions. Xirag also keeps who owns each desk, which approvals no one can skip, and a record nobody can quietly rewrite.

  • Desks that outlive staff changes

    "Merchant onboarding", "Renewals desk" and "Claim payouts" are seats. When someone moves on, the open cases stay with the seat.

  • Go-live is always a person's call

    Approving a sub-merchant to go live needs a second person from compliance, and that approval is never given to an agent.

  • Every claim payout approved

    Each claim payout needs the finance controller, and a payout whose name check fails is held until risk clears it.

  • Waivers and write-offs checked

    Waiving a premium, writing off a due or cancelling a mandate needs a checker, and the checker is never the maker.

  • Risk rules only loosen with compliance

    Tightening a risk rule is routine; loosening one needs the compliance officer, and no agent may do it whatever the settings.

  • A trail an auditor can check

    Every durable change is written to an audit trail where each entry is linked by hash to the one before, so an edit shows.

  • Collection calls with rules

    Reminder calls run on Xirag Dialer, whose calling rules are enforced on the server rather than left to each caller.

  • Agents that draft, people who decide

    On request, agents can chase dues, prepare KYB clarifications and draft reconciliation breaks, and a person approves every money-out step. Agents are not offered at launch; they are provided on request later.

The stack for PA and PG companies

Xirag Payments, built for the business that runs payments

Xirag Payments is the payments technology stack Xirag provides to payment aggregators and payment gateways: orders, methods, routing, refunds, settlements, payouts, reconciliation, a developer platform and a console in your own brand. It is in development and runs in a sandbox; Xirag holds no payment gateway licence, and money movement is partner-backed.

Explore Xirag Payments Developer support
  • Orders and payment methodsOne order record across many attempts
  • Routing and failoverRules, success rates and retry on the next gateway
  • Refunds and disputesFull and partial, with bank references
  • Settlements and splitsPer sub-merchant, partner-backed
  • Virtual accounts and payoutsPartner-backed
  • Reconciliation and reportsBreaks worked to closure
  • Risk and validationBank account and name checks
  • Console in your brandYour brand on pages, receipts and exports
Trust for financial data

Built for businesses that answer to regulators

Policyholder, merchant and payment data deserve more than a password. These are the principles the product is designed around.

  • Audit trail

    Every change to a merchant, a due or a payout is written with who, when, before and after, linked by hash to the entry before it.

  • Maker-checker

    Go-live approvals, payouts, waivers and write-offs need two people: one asks, another approves.

  • Partner-backed money

    Xirag instructs, records, reconciles and audits; a licensed partner holds and moves the money.

  • Role scopes

    People see what their role and department allow. An agent, when a client asks for one, acts only within the scopes of its seat.

These are design principles of the product, not certifications or licences.

Early access

Shape Xirag for your financial business

Register for early access, or tell us how your payments business or insurance distribution runs onboarding, collections, renewals and payouts today.

Register for early access Talk to us