IMPROVED TIME-TO-MARKET BY 45% THROUGH UNIFIED NEXT-GEN PAYMENTS PLATFORM

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CLIENT

One of the largest payment processing banks was looking to engineer next generation platform to handle increasing payment volumes across the globe, as the existing platform had below mentioned issues:

Separate channels for low value and high value payment servicing
Multiple point-to-point integration required to manage disparate channels across geographies
Legacy architecture that lacked scalability and failed to meet the product demands
Disjointed customer experience
Slow growth due to longer product development cycles and cost of innovation

SOLUTION

Mphasis partnered with the bank to build a unified payments platform, to consolidate legacy systems across payment products and geographies. Our next-generation payment platform helped the client to handle trillions of dollars per day across 70+ countries.

The platform had following features

• Cloud-native architecture, built on state of art stream processing to offer global scale for high volume and low latency

• Seamless interfaces with all market infrastructures

• Streamlined operations to provide straight through processing and high availability

• Visibility to real-time liquidity positions

• Stringent compliance tracking

• Simplified and improved customer interactions

BENEFITS

The digital unified global payments platform we designed and implemented provided the following benefits:

• 45% faster time-to-market

• 60% reduction in total cost of ownership

• 30% higher efficiency with process automation

• Enhanced customer experiences