Banking & Financial Services
A leading provider of transactional banking solutions, increases its customer base, by replacing & consolidating its legacy Payment Platform. Client Overview
A leading provider of transactional banking, liquidity and capital management products and superannuation solutions to more than 150 specialist financial services institutions across Australia, for over 30 years. Major clients include Credit Unions, ADIs, Building Societies, Domestic operations of foreign Banks, Non-bank Lenders, Finance Companies and Superannuation Funds.
Business Need In its pursuit to service a growing number of FIs, the company required a Payment platform that could not only support various channels & interfaces, but accept Cards of various Schemes. • Effortless support for new channels and interfaces. Customization of the PAYMENT SWITCH to support AS2805 message format. Configuration of the PAYMENT SWITCH for AS2805, Data Action and SPS interfaces. • Acceptance for various Card Products: Visa Debit, payWave, Proprietary debit & Loyalty cards, Visa, Mastercard . • Replacement of existing switches and interfaces by collating into single PAYMENT SWITCH.
The Solution To have an in-house modern product for acquiring, switching, routing and authorizing payment transactions.
The Services • • •
Creation and mapping of interfaces and intelligent transaction specific routing. Configuration of device interfaces for ATM, POS and HSM etc. Migration in two phases. First phase - all interfaces AS2805, Data Action, SPS configured for Message flow. Transaction flow in either side based on the type of transaction. The switch to do stand-in Authorization when the Host is unavailable. Different type of transactions supported with message structure specific to client. On completion of first phase, PAYMENT SWITCH configured to communicate with all devices and external systems based on the requirements.
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Benefits The Company has since been able to build unique Value Proposition for its various Customers & has been able to add many more as well. •
Business as usual.
Modular and portable - supporting different channels.
Closed approach on every component in the system- increase the efficiency and reduction in risk.
Advanced Quality Management overcome the future risks.
Configurable Level of security required .
Minimum down time.