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Infrastructure decision making - five key principles for success

11/11/2021

 
We’ve launched a new whitepaper on preparing your payments infrastructure for the next decade. Head to our Market Insights page to download the whitepaper, and find out what’s changing in the European payments landscape, How failure to adapt became the biggest infrastructure risk facing payments businesses, and how you can design a payments infrastructure that allows you to reduce risks and quickly bring new products and services to market.

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Many financial services companies today are operating on technology stacks that aren’t up to the challenge of today’s market. Some banks are even operationally dependent on technology that was installed in the 70s or 80s.

Global growth and opening up of economies will help the payments sector thrive again post-pandemic, but it’s only those with the right infrastructure in place who will be able to seize these opportunities. It’s become a cliche, but the pandemic has accelerated a decade’s worth of change into just a few short years.

While the core infrastructure helped banks keep on top of the day to day challenges in the pandemic, many senior teams will be left wondering what they could have done differently had there been better infrastructure in place. 

Customers needed new and different types of products more than ever. They needed protection from increased online fraud. Businesses needed to change how they operated and collected payments. In general, banks were positioned to survive, not thrive going into the pandemic. That could cost them customer loyalty, and ultimately revenue if left unchanged.

Part of the challenge is that creating and buying payments infrastructure is a big decision - it’s the engine room of your bank’s operations. That can make it all too easy to stick your head in the sand and leave changing it as a decision for another day. But that only creates bigger and bigger problems down the road. Eventually your current infrastructure will meet a challenge it can’t handle - and you’ll end up with bad headlines and an appointment with the regulator. 


What do my customers expect and what’s my business model?
When faced with social changes, a raft of digital-first competitors, and regulatory pressures, understanding your positioning in the market landscape is critical.

The financial institutions need to figure out how they can appeal to new consumer expectations, and turn them into a sustainable revenue stream. The success of this generation of banks has been fueled by changing expectations of a new generation of end-users. With more trust placed in the internet, digital only offerings have been able to flourish. 

Banks are facing pressures on their business models. Many are struggling to make money the way they used to, with pressure from falling interest rates, current account revenues, managing branch footprints and loan losses amongst others.

On top of that, new regulations like the European Payments Initiative means technology must be geared towards adapting to the new challenges and opportunities created.

Follow Five Key Principles for Decision Making

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Build for uncertainty  - 12 months ago, no one would have predicted how the market would evolve. The complete shift of consumer attitudes and needs to electronic payments was unprecedented. Governments, even those with pandemic preparedness policies, were taken by surprise when the event actually happened. Banks can’t protect themselves from change, they know it is coming, but they can’t predict the specifics. You need to build for flexibility, not scenarios. 
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Build for business priorities and technical realities - Understanding how aggressive you want to be in pursuing payments and supporting solutions will guide the infrastructure you put in place. There’s a significant difference between how a global bank and a local building society will define their strategy.
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Build for your business model - The cost of putting your infrastructure in place won’t be sustainable if it doesn’t reflect the business model that the world of finance operates under. Fully anticipating the cost of building, licensing, and running your payments infrastructure is an essential step. 
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Build for changing regulatory requirements - Banking will always be a heavily regulated industry, but regulations are prone to change. Regulators also increasingly need to see more data and will often mandate a time frame for delivering it. A well designed system should meet these requirements.
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Build for the future - The pandemic has dramatically exacerbated the problem of fraud. It’s now reached such a scale and level of sophistication that human teams alone will not be able to meet this challenge.   of the type of challenge facing payment infrastructure in the next decade. 
Find out more about how you can design a payments infrastructure that allows you to reduce risks and quickly bring new products and services to market, in our new whitepaper - Preparing your payments infrastructure for the next decade: a guide for financial services institutions.
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PREPARING YOUR PAYMENTS INFRASTRUCTURE FOR THE NEXT DECADE: A GUIDE FOR FINANCIAL SERVICES INSTITUTIONS

11/9/2021

 
The payments industry in Europe is facing an unprecedented set of challenges, and the speed of change makes this more pressing than ever before. 

The challenge facing the industry isn’t whether we understand the technical barriers, but instead whether financial institutions are able to execute the right technology strategy to meet market needs.


Customers need new and different types of products more than ever. The risk is that CTOs, boards and other senior leadership teams fall into a false sense of security that could prove fatal.

What you’ll learn in this whitepaper:

  • What’s changing in the European payments landscape
  • Why payments are still crucial to the financial services business model 
  • How failure to adapt became the biggest infrastructure risk facing payments businesses 
  • How you can design a payments infrastructure that allows you to reduce risks and quickly bring new products and services to market
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Play to Win with TANGO for Retail Payments

11/2/2021

 
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In today’s highly competitive Retail Payments market, there is no margin for error. To be successful, payments organizations need the very best technology, the right skills and experience, and the commercial agility to rapidly exploit any opportunities. It is a fact of business-life that all organizations have their ups and downs. However, the smart organizations continually pay attention to the critical factors that reduce the likelihood of ‘nasty surprises’, while also creating the best chances for accelerated success.

A simple ‘roll the dice’ strategy cannot ensure a future of strong growth, even if that’s how you have always ‘played’ before. The availability of powerful payment solutions like TANGO, the effectiveness of DevOps and Agile methodologies, and the perpetual shift in consumer demands are combining in a perfect storm. Unless of course, your organization can transform itself to thrive in this new era of Retail Payments.

Interestingly, the humble "Snakes ‘n Ladders" game provides a great metaphor for the ups and downs of a modern Retail Payments business.

SEEK COMPOUNDING GAINS
Fortunately, some business gains lead directly to further gains with a significant amplification of the overall benefits. Being more competitive comes from being able to learn and change more quickly than your competition. Using the TANGO micro-services payments suite delivers all the flexibility and commercial agility you need. This is clearly a crucial benefit. Additionally, with TANGO you can reduce your time and costs for compliance, support a wider range of consumer payments types, and easily form new business partnerships for accelerated growth. One ‘ladder’ leads to another, and another. Lucky dice throws aren’t guaranteed - but smart planning can, and does, make them more likely.

ANTICIPATE DISRUPTION
If you are providing a valuable service then it is highly likely that someone else is striving to do it better. No matter how successful their consumer service programs are, the smartest organizations continually ask themselves “What if …”, and prepare themselves for the unexpected.

While you cannot prepare for every competitive threat, you can take decisive steps to improve your responsiveness. Hanging on to an ageing payments platform might be convenient but can it enable the rapid delivery of new services to counter business threats?

Competitive threats are always there. The less you prepare for them, the greater the risk you will be caught out. As the playing board metaphor shows – only getting close is not good enough to win.
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TANGO: FAST-TRACK TO CLOUD PAYMENTS

10/1/2021

 
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​In today’s Retail Payments market there are two critical success factors; scale your business for revenue growth and optimize your operations for cost savings. This is a simple and well-known adage, but it masks a myriad of complexities. The inherent difficulties in meeting stringent regulations, reducing costs, and responding to rapidly changing market needs has driven legacy payments systems to breaking point.

Changing payments platforms represents a multi-decade investment commitment with serious repercussions in the event of failure. However, no amount of “just hanging on” will avoid the inevitable and it will only result in a loss of opportunities to more nimble competitors. With so much at stake it is understandable that management teams are cautious about changing payments platforms – but perhaps to their own detriment?

Fortunately, a clear way forward is emerging – TANGO by Lusis Payments.
TANGO is used by 4 of the top 10 Retail Banks to power their payments strategies, as well as a multitude of banks and processors around the globe. TANGO’s advanced micro-services technology and pedigree customers are clear advantages over its rivals. Additionally, TANGO’s functional richness, and unique configuration flexibility, guarantee ongoing business advantages.

A recent TANGO Cloud deployment provides a great example of these advantages. 
An existing Lusis customer successfully redeployed their legacy DCC service into the Azure cloud using TANGO. As a result, the customer achieved substantial cost savings and vastly improved operational efficiencies. The entire service was implemented using standard product code and was delivered for acceptance testing within 3 months.

TANGO was deployed in the Azure cloud with Azure SQL using TANGO’s built in Active-Active configuration to ensure the highest availability. External links were used to connect to the bank’s on-premise HSMs and Card Association networks to leverage existing investment. TANGO’s tokenization support protects the card details and the Azure security was augmented with the bank’s own measures to achieve PCI certification. 

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NEXT GENERATION ATM SERVICES

9/14/2021

 
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THE CHANGING ATM LANDSCAPE
Over the last decade, innovation in ATM services has been severely restricted as a result of several factors, including monopolistic business practices, restrictive legacy message protocols, and proprietary systems that became isolated from other banking channels and investment.

However, the exciting news is that this situation is poised for rapid, and positive, change. The ATMIA's new blueprint architecture specifically calls for cloud- based processing, the use of modern integration options including ISO 20022 and APIs, and greater flexibility for ATM deployers to tailor the consumer's experience themselves.

As a global leader in Retail Payments solutions, Lusis Payments is a strong contributor to the NextGen ATM initiative through its well proven TANGO transaction orchestration engine.

When it comes to payments processing, TANGO is simply in a class of its own with 4 of the top 10 banks already using TANGO to empower their consumer payments strategies. TANGO is functionally-rich and well proven within both large and small banks and processors around the world.

PERSONALIZED SERVICE: The New Battleground
Consumer expectations and payments technology have both changed significantly since the early days of ATM services. In particular, the personalization of services to match a specific customer’s need is now commonplace for most digital channels.

There is no doubt that business stakeholders are extremely interested in the attraction and retention of customers. In this respect the personalization of consumer service interactions is rightfully receiving significant investment.

The replacement of the restrictive legacy ATM message protocols with XML and JSON alternatives is re-writing the market opportunities for providing a personalized ATM experience to everyone. In a NextGen world, a consumer's journey can be continually refined in real time by the provision of relevant, consumer-specific information that dynamically enhances transaction workflows based on the consumer's profile and choices. Of course, this power requires the transaction switch to have the flexibility to retrieve and distribute the consumer's data securely and without unreasonable processing delays.


TANGO: The Decisive Difference
TANGO has built-in Active / Active support as standard, ensuring the highest possible service availability. Furthermore, TANGO is engineered for maximum processing efficiency and has been benchmarked at 10,000 transactions per second. Not only does TANGO's extreme efficiency reduce the overall computing costs, it also ensures the maximum available time for sharing real time information with other host systems, including fraud detection, loyalty, and CRM systems.

However, it is not just raw, engineered power that sets TANGO ahead of the competition. TANGO is also designed for ease of change and operational simplicity. TANGO has a proven track record of enabling payments organizations to deliver new services faster, and more rapidly, than their previous systems allowed.

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LUSIS LITERATURE

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LUSIS NEWS
- Creating Enhanced Payments Agility
- Happy New Year! 2022 Highlights
- Banking on the Cloud

- Enriching the Branch Experience
- NEW: TANGO V8.1 with Cloud-Native Support
- A Reflection on Payments Fraud - 2022 and Beyond
- Is a revolution in consumer-centric payments inevitable?
- Changing the Payment Card Monopoly: What Does it Take?
- Is Russian software trustworthy?
- A Lusis Payments Reflection on 2021 ​
- Payments Q & A with Dave Smith
- Can financial services institutions rise to the challenge of FinTech?
- Infrastructure Decision Making - Five Key Principles 

- Preparing Your Payments Infrastructure for the Next Decade: A Guide for Financial Services Institutions
- Play to Win with TANGO for Retail Payments
- TANGO: Fast-Track to Cloud Payments
- Next Generation ATM Services
- Leading ATM Processor Chooses TANGO
- A new TANGO Benchmark on NonStop





- Why Companies are choosing TANGO to replace their Legacy Systems
​
- HPE GreenLake for Financial Payment Systems in Partnership with Lusis Payments​
- Leading Global Bank relies on TANGO for superior agility & impressive cost savings
​- Bayesian and Dempster-Shafer models for combining multiple sources of evidence in a fraud detection
- HPE NonStop for Lusis TANGO
- Cover story in "The Connection" magazine
   Tango V8 – An Implementation of Micro services 

- Fighting Fraud with the Latest Technologies TANGO AIF
- Lusis Payments Announces N American Support Center
- Research Chair: AI Applied to the Detection of Payment Fraud and Trading

- Lusis named Best Electronic Payment Systems
- Article:  A SME in the Big Leagues

​- ​TANGO 10K TPS in the Cloud
- Lusis Makes Strides to Revolutionize Payments Technology
- Lusis Leverages the Power of Artificial Intelligence
​- New Security Requirements for ATM and POS Introduced by PCI-PIN V3PIN V3: TR34 - TR31
​- TANGO - Stress Test on  HPE NonStop L-Series

- A Comparison of Machine Learning Techniques for Fraud Detection
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