Payment System Transformation
The client operates in stored-value cards distribution. The company has expertise in the implementation of strategic options, helping to resolve challenging financial problems. Its focus is achieving a thorough understanding of each customer's objectives, the types of products or services that they offer, and the industry in which they operate.
The client used an ASP/Microsoft SQL solution for its transactions. Its card system communicated with banks for account information handling, as well as with other external systems, such as National Check Network (NCN). The latter was responsible for check verifications.
In addition, the client’s system involved several partners who were responsible for handling transactions between external devices (ATMs, etc.) and the client’s system. New requirements for communication, data security, and fund control led to an inevitable system expansion.
Akvelon implemented a new framework and functionality while leveraging on their existing system components. The solution includes the following components:
- Core: The new system is built around a flexible high-performance core, based on a Microsoft SQL database, and a set of .NET-based business objects. The core is designed to process requests from other parts of the system, performing essential system-wide functions.
- Web UI: The web-based user interface provides full client control over any variety of user data, including: staff, associates, resellers, and cardholders. The multi-report option accelerates data analysis and planning.
- eFunds Integration: New system integration handles transactions from ATMs and other external withdrawals.
- Connect Service: This web service allows external systems to organize transactions with the client's system.
- Check Scanning and Verification: The existing check data input system was integrated with a set of check scanning products like EZ-Scan corp., RDM corp., and NCN. The new components were designed to both check validity and efficiently enter information. Once the check’s information is verified, it's pipelined into the system.
Benefits and Results
- Improved partner communications with new features that help facilitate transactions and set conditions or constraints.
- Increased data security with multiple safeguards specifically designed to protect against fraud.
- Improved control of funds providing a complete audit of funds-related activity that's accessible through a variety of reports.