Virtual Account Management

GRAVITY’s Virtual account management solution provides an easy method of organizing balances and transactional information within a traditional “physical” bank account. Virtual account management creates unique identifiers that can be configured as a clearing-recognized account numbers and using them to allocate transactions to discrete subledgers within a physical account. This way, an incoming or outgoing payment simultaneously posts to the “master” physical account and to the relevant virtual account. An opening and closing balance is also calculated for each virtual account, giving them the same reporting granularity as a physical account, but all within one account. Each individual virtual account provides the same segregation of data, balance analysis, and transaction identification that a physical account can.


Individual – Purpose driven Virtual Accounts

  • Individual Virtual Accounts are purpose driven virtual accounts that can be offered to individual customers to allow them the flexibility of budgeting their expenses linked to specific needs.

  • Some examples of such specific needs/purposes are Grocery, Entertainment, Education, Medical, Investment, Insurance etc.

  • GRAVITY’s rule engine provides the facility to reject a transaction within the virtual account in case of purpose mis-match



Corporate – Receivables driven Virtual Accounts

  • Corporate Virtual Accounts are the traditional virtual accounts provided to entities like Educational institutions, Housing societies, Municipal corporations, Healthcare institutions, Fintechs, Clubs etc.
  • These virtual accounts are created with a sole purpose of receiving collections from the end customers of above mentioned entities.
  • Each virtual account is created as a child account under the Current Account maintained within the bank by the main entities.