​Another one of our clients at Boot Camp shared with us that they’ve been benchmarking TPS rates and have tested TPS rates that are triple what they expect to see in the future. He commented that there is no further need for them to invest in benchmark testing as the results clearly show the scalability of TANGO for all their future growth. 

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Brian and I would like to thank everyone who stopped by the booth to meet with us to get their passports stamped and schedule webinars.  We look forward to following up with everyone next week and beyond. 

​Global retail markets are being forced into tremendous change to survive and this is evident in the United States more than anywhere else. Media and Wall Street analysts continue to highlight that a new paradigm is impacting the retail market. 

A Fortune Magazine article stated “Can America's Department Stores Survive? “  The Atlantic Monthly stated “From rural strip-malls to Manhattan's avenues, it has been a disastrous two years for retail.”  Recently, Amazon threw down the gauntlet and announced their intention to integrate the traditional bricks and mortar grocery vertical via their announced $13.7B bid for upscale grocer Whole Foods Inc.

Today, Amazon's capitalization outweighs the entire European retail sector combined. The financial markets and the consumer are demanding that traditional based retailers need to make significant changes to survive. 
 
The industry has become focused on Omni-Channel, and within that movement a key foundation to accomplishing it resides in the integration of payments as part of the strategy. Lusis, a payment specialist provides key elements to enable this need. In simple terms the retail industry has to unify their customer experiences across all channels in order to provide a highly personalized experience. A significant key to that accomplishment is an IT architecture that enables these goals.

A retailer's ability to deliver a true Omni-Channel experience is dependent on the evolution of the current operating models. However, what is possible to deliver is dependent on the foundation of their IT environment and what it is capable of.  Old solutions are costly and slow to enhance and adapt. A modern micro-service payment architecture like the Lusis Tango product can keep pace and easily adapt to today's challenges.  

READ THE COMPLETE ARTICLE

​CMA (UK Competition and Markets Authority) says YES!

​Open APIs can transform the financial services sector. There is already a very active and growing FinTech community which has been developing and introducing new products using existing digital technology. 
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Here are a couple of key points made by CMA in their paper "Making banks work harder for you."

31: Requiring the banks to adopt and maintain a common open standard will accelerate the pace of this change. Without our intervention, the process of developing open APIs cannot be guaranteed and could take a long time, with the effect of denying customers the early benefits of these new services. We are therefore also imposing a challenging, but realistic, timeframe on banks for this process.

32: The development and implementation of an open API standard for banking – our first foundation remedy – will permit authorised intermediaries to access information about bank services, prices and service quality and customer usage. This will enable new services to be delivered that are tailored to customers’ specific needs. The types of new and improved services that will result from this remedy include applications which:

• Allow banking customers, through a single application, to manage accounts held with several providers.
• Allow customers to authorise the movement of funds between current and deposit accounts to help avoid overdraft charges or to benefit from higher interest payments.
• Let customers make simple, safe and reliable price and service quality comparisons tailored to their own usage patterns.
  
• Monitor a current account and forecast a customer’s cash flow, helping to avoid overdraft charges.
  
• Use a small business’s transaction history to allow a potential lender other than their bank to reliably assess the business’s creditworthiness and offer better lending deals than they would without this information.
  

Read the complete article by CMA:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/544942/overview-of-the-banking-retail-market.pdf
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​Philippe Préval Lusis
CEO Lusis


Post your questions or comments below.

There’s no time for downtime, and it’s crucial that your Nonstop hardware platform is at the ready 24/7. Lusis Payments has years of experience with open systems and brought our experience to Nonstop and OSS a few years back.  One of the key architecture features of an SOA Nonstop environment relates to reliability and high availability, with the agility and the scalability users need. A versatile design and architecture provides the same high availability Nonstop users are accustomed to for continuous online processing plus Active/ Active and Active/Passive environments. This allows payment applications to be streamlined across multiple servers without sacrificing speed or accuracy which creates a robust, reliable platform with guaranteed delivery each and every time.

Some elements of high availability are provided by the architecture of the hardware platform, such as fault tolerance, clustering, and remote backup. Lusis has experience with these different architectures and their respective pros and cons. We have integrated several functions to minimize any constraints introduced by these disparate architectures.

CLICK TO READ THE COMPLETE ARTICLE AS FEATURED IN THE CONNECTION MAGAZINE.