No end-to-end tracking of onboarding status of merchants; manual entry of data; huge number of customer touchpoints; lengthy application process.
Implemented an intelligent, customer-centric ESB solution using Software AG project suite to facilitate simple and instant merchant onboarding; automated infrastructure to curb manual labor and enable operational efficiency.
Strengthened merchant onboarding process; enhanced customer service; improved service cycle time; increased productivity.
- The merchant onboarding process was frustratingly siloed, causing an inordinate delay of around 11 days in completion of the application process. There was no end-to-end status monitoring process, which choked operational excellence and threatened business growth.
- Existing data entry systems were painfully slow and manually-driven, which resulted in dissipation of time and rampant inaccuracies in the transaction-based data. This was an extremely precarious situation because data inconsistency was proving to be detrimental to user privacy and business reputation in general.
- Customer journeys were tediously long and cumbersome, stretching across a huge number of touchpoints and channels. This led to excessive service delays lasting up to days or weeks, and poor customer experience.
Our client is a global payment processing giant with an operational footprint across 146 countries and a sustainable ecosystem of over 400,000 clients. Supporting omnichannel payments in over 126 currencies and handling a whopping 31 million transactions a day, our client has an unparalleled service portfolio and strong performance legacy to boast of.
We conducted a thorough assessment of the client’s current-state processes and systems and implemented a robust, out-of-the-box ESB solution based on Software AG’s product suite. This helped in streamlining their business operations through automation and profile management, supporting real-time onboarding stats via STP workflows, and amplifying customer experience.
Our team also improved underwriting, increased productivity, and reduced system gaps in the entire merchant onboarding supply chain with rules-based engines and business process management. The product, pricing, and customer-based mechanics was rationalized to cut the length of customer timelines from 11 days to just two days.
We also developed agile, high-performance APIs for multiple key functions, including Underwriting, Boarding, Terminal Management, and Pricing among more to enable instant processing of transactions in near real-time.
- Improved business performance by reducing the deal submission time
- Increased customer growth by reducing the number of customer touchpoints by 50%
- Reduced number of pending deals by 40%
- Decreased the usage of faxes for deal entries by 50%
- Ensured efficient workflows with real-time processing
- Eliminated delays in new merchant verifications