About the Company
Background of Business Problem
Client wants to enhance the current Digital Banking Platform with new features:
- Obtain a new API-based Check Pos Pay decision process using Centrix.
- Leverage the existing Check Pos Pay UI and redirect using a configuration to the API rather than the BPB database.
- Create a new ACH functionality that can support IAT transactions.
- Integrate Mastercard Virtual Cards as a permitted payment type to be processed in our digital banking solution.
Our Approach & Solution
Infinite designed and developed the solution to integrate new features seamlessly into the existing Digital Banking Platform while ensuring scalability, security, and regulatory compliance.
The key features are:
New ACH Payment Alternative
Develop a new enhancement alternative for the DBP users to process International ACH Transactions (IAT) Payments, follow the NACHA standards.
High configurability
The IAT ACH Payments function was developed with great configurability, allowing the FIs to adjust and manage the IAT ACH payment to their specific needs.
UX Simplicity
Provide the same user experience existing for other payment types to Mastercard Virtual Cards.
Seamlessly Integration
The goal of this project is to be able to replace the API with no changes to UI.
Security
By using a combination of multiple security layers like exclusive white-listing, mTLS encryption and cyphers we ensure that the communication from the DPB to the Centrix API is secure.
Business Outcomes
Improved Operational Efficiency
Streamlined Transactions
Integration of API-based Check Positive Pay (CPP) using Centrix automates decision processes, reducing manual effort and operational errors.
Enhanced Payment Processing
ACH functionality supporting International ACH Transactions (IAT) expands global payment capabilities, improving transaction speed and accuracy.
Enhanced User Experience
Unified User Interface
Maintaining consistency across payment types, including Mastercard Virtual Cards, simplifies user interaction and reduces training needs.
Configurability
New ACH payment alternative offers flexibility to financial institutions (FIs), enabling them to tailor IAT payments according to specific business requirements.
Strengthened Security Measures
Advanced Security Protocols
Implementation of exclusive white-listing, mTLS encryption, and cyphers ensures robust data protection and compliance with regulatory standards.
Competitive Advantage
Comprehensive Solution
Modernized Digital Banking Platform (DBP) enhances competitiveness by offering a comprehensive suite of features that meet diverse business banking needs.
Market Differentiation
Ability to support Mastercard Virtual Cards as a permitted payment type enhances product offering, attracting new clients and retaining existing ones.
Client Satisfaction and Retention
Improved Service Offerings
Enhanced capabilities in cash management and payment processing contribute to improved client satisfaction and retention rates.
Positive User Feedback
Simplified user experience and enhanced security measures lead to positive feedback from clients, reinforcing trust and loyalty.