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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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LEADING ATM PROCESSOR CHOOSES TANGO FOR EASE OF USE AND LOW RISK MIGRATION

9/3/2021

 
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THE CLIENT
This client has over 55 years of experience as a leader in core banking processing. Their enterprise banking solutions empower institutions to grow their assets and reach new customers by integrating the latest digital technologies. The client's cloud-based core banking platform delivers a seamless mix of innovative, flexible, and secure banking services that provides institutions with a significant competitive advantage.

THE NEED: An Agile Payment Solution
The client has over 20 years in ATM processing that was founded on two different payments systems prior to the adoption of TANGO. Significantly, the client became increasingly frustrated by both legacy platforms due to the constraints they placed on the client’s business growth.  The slowness of vendor maintenance support, the lack of development agility for new customer services, and skyrocketing costs of ownership all led to the need for a better solution for their future.

Tired of navigating product and service obstacles with their original payment solution vendor the client turned to a second provider for help. This second provider was able to migrate them to their solution and provided adequate service and functionality for a few years. However, as customer demand for new services increased this second solution had also become stagnant and restrictive. The client then sought a third and final payment solution, one that demonstrably addressed the past growth issues.

It was critical that the new solution would provide an agile architecture with the robustness to handle diverse and high-growth volumes.
Additional high-priority requirements included;
•    the agility to continually, and rapidly, adapt to changing consumer needs,
•    the ability to rapidly create their own configurations on the fly,
•    a major reduction in application lifecycle costs.

THE SOLUTION: TANGO by Lusis Payments
The client performed an extensive research of all leading payments solution providers. Their findings indicated that there were decisive advantages in selecting TANGO from Lusis Payments.  TANGO and Lusis Payments’ reputation for service and innovation far exceeded all of their business and technical requirements. TANGO's architecture, flexibility, ease of use and lower cost of ownership were once again identified by another client as compelling advantages over other solutions.

THE RESULTS:  Cost Savings, Scalability and Ease of Use
The deployment of TANGO resulted in significant cost savings relating to interchange certifications including SHAZAM, Discover, and VISA/MC. These cost savings were achieved through a combination of TANGO's proven interchange modules and its fully extensible interface framework.

Migrating their ATMs onto TANGO also resulted in significant cost of ownership reductions due to TANGO's licencing policy. The client's previous legacy system included additional fees based on the transaction volumes processed. However, with TANGO, the client can increase their transaction volumes without additional cost. The professional management of the ATM migration onto TANGO also gave the client great confidence in Lusis Payments as a reliable vendor. Consequently they are now looking to expand their system with the TANGO AI Fraud solution.
atm processor chooses Lusis payments
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Is the United States Ready for Cash Recycling?

3/23/2020

 
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By Philippe Preval

U.S. banks have flirted with the idea of cash recycling for several years. Recently, however, the North American market has become more serious about cash machines — largely due to the fact that cash recycling machines have dramatically come down in price. A cash recycling machine that cost $45,000 to $55,000 five years ago costs between $15,000 and $40,000 today.

The big question that remains: Will cash recycling continue to be a subject that garners a lot of lip service and little action, or are U.S. financial institutions finally ready to act?

Cash Recycling in a Nutshell
  • Cash handling machines perform simple but important teller tasks:
  • Accepting cash
  • Dispensing cash
  • Storing cash securely
  • Tracking the amount and denominations of cash on hand
  • Automating the cash cycle

The idea of cash recycling comes from the machines' capability to accept and sort cash deposits and then dispense that same cash for withdrawals. That's why cash recycling machines should be implemented in places where there are high volumes of both deposits and withdrawals, whether that's at the teller counter or a high-traffic ATM.

Serious discussion about implementing cash recycling efforts in the United States began in recent years, with the evolution of hardware improvements. Later, advanced recognition technologies created opportunities for new ATM features, such as intelligent check deposit and cash recycling.
ATM manufacturers began designing cash recyclers in the late 1980s. Over the years, they have tested several solutions, including dedicated “drums” and recycling cassettes.

ATM manufacturers began designing cash recyclers in the late 1980s. Over the years, they have tested several solutions, including dedicated “drums” and recycling cassettes.

Eventually, the technology focused on recycling cassettes. Early initiatives took place in various European countries and accepted and dispensed domestic currencies. Most often, experiments were conducted in small countries where various currencies are distributed.

The European Central Bank (ECB) eventually stepped into the ring and, in 2004, issued basic cash recycling regulations. As is often true in Europe, implementing new procedures took time, so many regulations were implemented progressively: France and Germany implemented regulations in 2005, Spain in 2006, and the United Kingdom in 2010. That's how cash recycling began to flourish in European banks more than 10 years ago.

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Looking Back, Looking Ahead: Lusis Payments Makes Strides to Revolutionize Payments Technology

1/1/2019

 
At Lusis Payments, technology is our passion, and our clients are the heart of our business. We live and breathe payments platform technology, and we’re committed to maintaining our position as a market leader. Beyond payments, though, we’re striving to pave the way for new technologies that will enhance our current solutions and lay the foundation for future solutions that will take the industry by storm. Here’s what our team at Lusis Payments was up to in 2018, as well as a look at what’s ahead in 2019.
 
Out and About
We’re devoted to our clients and technology, but that doesn’t mean we’re chained to our desks. Last year, you might have met us at a Tandem User Group (TUG) event near Atlanta, Georgia (ATUG), or in Mississauga, Ontario (CTUG). You may have seen us at Forum TELECOM Nancy at Université de Lorraine. Maybe you visited our booth at the HPE NonStop Technical Boot Camp in Burlingame, California.
 
Industry Game Changers Revised Payment Service Directive (PSD2)
PSD2 was implemented in 2018, and, per instructions from the European Union (EU), it requires banks to enable their customers to use third-party financial services vendors. This will shake up banks’ competition model. They’ll need to ensure that these third-party providers have access to their customers’ accounts through open Application Programming Interfaces (APIs), and third-parties will be able to build financial services on top of banks’ data and infrastructures. Competitive differentiation will become less about an account’s location and more about the services customers use. Read the full perspective by CEO, Philippe Préval at https://www.lusispayments.com/news/psd2-international-perspective
 
​​New ATM and POS Security Requirements
In August 2018, Lusis Payments released a report summarizing new security requirements introduced by PCI-PIN V3 that merge requirements from the PCI Security Standards Council (PCI SCC) and the Accredited Standards Committee X9 Inc (ASC X9) for a single, unified PIN Security Standard for payments stakeholders. Two evolutions — ASC X9 TR-31 and ANSI TR-34 — have emerged from the standards and will introduce a massive change in ATM and POS remote key management. X9 TR-31 is a method consistent with the requirements of the ANS X9.24-1 standard for the secure exchange of keys and other sensitive data between two devices that share a symmetric key exchange.  ANSI TR-34 describes new rules to unify methods to build and store the original Terminal Master Key in ATMs and POS devices. Until now, each vendor has used its own methods to achieve this initialization. ANSI TR-34 specifies a method consistent with the requirements of ANSI X9.24-2.  Read the complete Lusis article at: https://www.lusispayments.com/news/update-security-pci-pin-v3-tr34-tr31
 
The Future of ATMs
Last May, we reported about new technologies that will affect the future of ATMs. Banks have two new initiatives on the table for cash delivery:
  1. A wallet Device Primary Account Number (DPAN), which can use a smartphone radio-frequency identification (RFID) capacity and wallet instead of a card to allow customers to retrieve cash from ATMs
  2. Using wallets to send cash to third-party holders, who then can retrieve cash from ATMs
 
The ATMs of the Future
Meanwhile, ATM vendors are introducing ways to expand typical ATM capabilities and help banks reduce labor costs without degrading the customer experience. These advanced banking machines provide assisted service hardware solutions similar to traditional ATMs, but additional software and hardware enable integrated two-way video conferencing with live tellers stationed at remote locations. The machines perform operations typically provided by live tellers, and they can serve as stand-alone video teller solutions or replace a portion of live teller agents inside branches. And the best part? Customers interact face to face with live tellers, so they still have the experience of personal interactions.  Read the full perspective by CEO, Philippe Préval at: https://www.lusispayments.com/news/the-future-of-atms-new-initiatives-from-vendors-and-banks
 
Our Goal: Pave the Way for the Future of Payments Tech TANGO Cloud Achieves 10,000 Transactions Per Second
Our clients’ customers continually seek better, faster and more accessible financial services and products, so Lusis Payments is dedicated to continuous improvement and providing the industry-leading payments technology solutions. Recently, we conducted another proof-of-concept (POC) benchmark on TANGO, our cloud-based transaction processing engine for mission-critical, 24x7 payments.
 
The POC showcases the TANGO architecture’s ability in a cloud environment. Completion of the benchmark validated that TANGO not only meets but also exceeds the 10,000 TPS mark with a constant response time. In our next POC, Lusis Payments will demonstrate that TANGO can exceed the 20,000 TPS mark in a standard cloud environment, and our third POC will benchmark TANGO in an HPE NonStop Cloud environment.
 
Revolutionizing the FinTech Industry With Artificial Intelligence
Lusis Payments is at the top of our game when it comes to payments systems, and, while we remain dedicated to continuous improvement of our platforms, we’ve also been investing and delving deeper into other technologies to enhance our current solutions. Even more exciting is how these new technologies could potentially diversify future Lusis Payments solutions and position us as not only a market leader but also a market disrupter.

In 2017, we launched a dedicated AI department, which leads our AI-based trading strategies, other FinTech solutions, and global retail payments software and services. Our central focus is on deep learning, which offers extraordinary power and flexibility for problem resolution. Today, we offer a broad range of FinTech solutions and services for capital markets.

But the applications for artificial intelligence and data science are infinite; in many ways, the tech industry has only begun to tap in to their potential. AI includes tools like machine learning, natural language processing and deep neural networks — tech that’s improving efficiency in almost every industry. One area where AI has more recently become a disruptor is in capital market applications. According to a Gartner survey, organizations in the banking and investment services industry are more likely to actively invest in machine learning and virtual customer assistants than those in other industries.

Lusis Payments has spent five years using data science approaches to analyze and improve our FX trading platform because we see great potential for AI to change end-to-end trading, automatic trading and portfolio management. In fact, our experts predict that AI will influence every aspect of capital market applications.

Happy New Year from all of us at Lusis Payments. We hope you’ll check back to learn about our advancements and initiatives in 2019.

UPDATE: SECURITY PCI-PIN v3: TR34 - TR31

8/8/2018

 
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​​NEW SECURITY REQUIREMENTS FOR ATM AND POS
INTRODUCED BY PCI-PIN V3: TR-31 and TR-34
​Lusis Payments is committed to providing our clients with helpful information to remain ahead of the curve on topics such as new compliance requirements or guidelines in the payments industry. The following is a brief summary of the new security requirements that were introduced by PCI-PIN V3 that merges requirements from the PCI Security Standards Council (PCI SCC) and the Accredited Standards Committee X9 Inc (ASC X9) to create one unified PIN Security Standard for payments stakeholders.  There are two evolutions that have emerged from the standards that will introduce a massive change in ATM and POS remote key management.  They are ASC X9 TR-31 and TR-34.

​​X9 TR-31
TR-31 is a Technical Report. Technical Reports are different from standards, which are mandatory sets of rules that must be adhered to. Technical Reports are not mandatory but do provide guidance to those who are implementing the standards. TR-31 is a method that is consistent with the requirements of the ANS X9.24-1 standard for the secure exchange of keys and other sensitive data between two devices that share a symmetric key exchange. No other specific methods have been defined by the standards committee, therefore the TR-31 method has become the adopted standard through which financial organizations will exchange keys. The TR-31 key block has a set of defined key rules. 

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LUSIS NEWS
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- A Lusis Payments Reflection on 2021 ​
- Payments Q & A with Dave Smith
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- 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

- HPE GreenLake for Financial Payment Systems in Partnership with Lusis Payments​



- Why Companies are choosing TANGO to replace their Legacy Systems
- 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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