Payment System Transformation
Client
The client operates in stored-value cards distribution. The company has expertise
in the implementation of strategic options, helping resolve challenging financial
problems. The focus is achieving a thorough understanding of each customer's objectives,
the type of products or services they offer, and the industry in which they operate.
Business Need
The client used an ASP/Microsoft SQL solution for its transactions. Their 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 lead to an inevitable
system expansion.
Solution
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.