Electronic files are passed to the clearing house via communication links from clearing banks, and the data is verified and net settlement entries passed to the Central Bank settlement system to update individual bank accounts. Banks can be locked out from clearing if insufficient funds available. Files are then prepared for onward secure transmission to the destination bank.

Two versions of the product are available, one for just local currency clearing and the other for up to ten currencies.

ECHO is very quick to install and implement. Training can be provided by Chase Cooper and typical implementation and training takes from several days to a maximum of two weeks.

ECHO has been built on experience gained from a long established installed customer set, and is successful in several countries in Africa.