B2B Cross Border Payments Company
Value Engineering Your Application to Drive Customer Experience and Profitability
London, United Kingdom
Client provides cross-border payment services to help banks and other commercial organizations handle variety of international payment situations.
With its extensive overseas bank network across the globe, it provides STP for international remittance service using the robust B2B Gateway Infrastructure.
- Improve client onboarding process.
- Minimize manual interference and increase straight through processing of payments.
- Improved transparency of payment settlement.
- Easy access to settlement and back office reports.
- Reviewing/responding to requests for good faith adjustments raised by Acquirer.
- Techwave co-developed the solution with IT Wing of Client. Captured the business logic of the existing legacy system and developed the To-Be process.
- Techwave designed and developed the solution on the target cloud platform.
- System core modules includes pre-validation of payment request, data enrichment, intelligent routing, compliance validation, settlement of payments with partner banks, treasury management and analytical reports.
Results or Transformation:
- Improved customer onboarding.
- Improved customer communication by real time status notification and expected settlement date.
- Realtime currency – Treasury management.
- Improved backend operation through automated process and electronic data exchange with customers and Banks.
- Reduced transaction and settlement time by 40-50%.
- Migration of environments to Cloud.
- Easy accessibility to reports.
The quality of delivery and the commitment of the team at Techwave has been absolutely fantastic. It’s really important that you have a partner you can trust in a faced paced environment.
Techwave Value Drivers:
Agile and Collaborative Design
100% re-engineered driven by agile and collaborative design principles.
ISO20022 compliant messaging and real-time currency-treasury management.
Application modernization that provided a data enriched, intelligent routing and compliance validation payment settlement exchange platform
Cloud Based Automated
A robust cloud based automated operational process frameworks
Flexible & Secure
COE based flexible, secured NOC support setup