Fast-track payments modernization and innovation, without “rip and replace” of your current systems
7 of 10
Senior payments executives say inflexible legacy systems are the #1 reason preventing their organizations from realizing the potential of next-generation payments services
The imperative to modernize is clear. Open banking, competition from challengers and non-bank service providers, ISO 20022, and new clearing and settlement options are reshaping the payments business landscape.
What’s holding banks back? Legacy payment systems can’t keep up with demand. And the rip-and-replace approach of traditional payment hubs is too slow and expensive to be a viable option.
VolPay Omnichannel Preprocessing offers a smart alternative. It’s the fastest way to deploy the most modern payments technology to meet market demand, while simplifying complexity and insulating existing systems from change.
Learn more about approaches to modernizing and transforming payments infrastructures while preserving legacy systems - watch the video.
VolPay Omnichannel Preprocessing
An intelligent preprocessing solution that mediates between multiple bank channels, including open API channels, to capture and preprocess payments while retaining existing systems for final execution.
New open API access methods
ISO 20022 to maximize the information that travels with the payment
Alternate payment methods - digital wallets, cryptocurrency, tokenized payments
Eliminate point to point connections between channels and payment systems
Standardize validations across channels and processing systems
Reduce duplication in processing steps
Customer experience, by providing real-time status reporting
Customer service, by tailoring routing options and cutoff by customer context
STP (Straight-Through Processing), by eliminating errors and enriching payments before they reach legacy systems
Global Validation Services
One of the simplest applications of VolPay Omnichannel Preprocessing is as a consolidated location for all payment validations--ensuring that payment initiation channels, processing engines, and clearing gateways all validate payments in the same way and using the same reference data.