Solutions - SmartVista Functionality Areas

Solutions

The worldwide expansion of international payment organisations, the growing consolidation of national and regional payment networks, the extensive penetration of telecommunications and computing infrastructure with an emphasis on convergence and mobility, the constant growth of network bandwidth, computing power and storage capacity, have all pushed the market to support common standards and have generated variety of business models and practices.

Many banks view the card as an integrated element of their client offering and therefore prefer to focus on their core business and outsource the ‘technical’ areas such as ATM management, merchant acquiring, card production and others to third-party processors and specialist companies. At the same time a lot of new players have emerged in the EFT market including non-bank payment processors, focused credit card issuers and large retailers and merchant associations.

But whatever the exact division of responsibilities in each particular business model, the basic ingredients needed to make up an end-to-end EFT and e-business value chain are pretty much the same and focus around a few distinct functionality areas:

Multi-channel service delivery with customers being able to initiate transactions and make queries using various devices and facilities such as ATM, POS, kiosks, call centres, e-commerce websites, mobile phones etc.
ATM and POS network control, monitoring and management.
On-line acquirer-side authorisation switching to the appropriate host or other system that can authenticate the card and verify the availability of funds.
On-line issuer-side authorisation processing, with account limit/balance verification.
Interchange with payment networks (on-line for authorisations and off-line for clearing and settlement and reports).
End-to-end clearing and settlement across the chain between the customer and merchant with fees applied appropriately among all parties.
Exception, chargeback and dispute processing.
Integration with other Line-of-Business applications such as retail/core banking systems, CRM, call-centres, etc.
Customer origination and applications processing.
Card, account, customer and merchant management.
Product creation and management.
Card production and personalisation.
Fraud prevention and monitoring.
Loyalty and affinity schemes.
Social programmes and e-Government.
Sophisticated multiple account credit cards support.
Delinquency management.
Funds transfers to third-party accounts (utility payments, mobile account top-ups, etc.).
Internet banking.
E-Commerce.

SmartVista is designed to address all of these areas and meet the requirements in any combination: either as a complete integrated solution or as a system responsible for just any specific area working in conjunction with third-party solutions.