Lusis Payments | Innovative Global Payments Software and Services
FR (+33) 1 55 33 09 00  -  USA ​(+1) 415 829 4577 - CA ​(+1) 416 979 7800 - UK (+44) 20 3398 5582
  • Home
  • TANGO
  • AI FRAUD
  • LITEPOS
  • SOLUTIONS
    • TANGO VIDEOS
    • LITERATURE
  • BENCHMARKS
    • USER PROFILES
  • ABOUT
    • PARTNERS >
      • HPE GreenLake
    • VIDEO
    • EVENTS
    • PRIVACY
  • WEBCAST
  • Contact
    • CAREERS >
      • JOBS-UK
      • JOBS-FRANCE
      • JOBS-NA
      • JOBS-LA
      • JOB APPLICATION
  • NEWS
    • Market Insights

Enriching the Branch Experience

10/17/2022

 
Picture
by David Smith
​
​As a long serving practitioner in the ATM Industry I have witnessed several policy decisions that really intrigued me.  For example, some banks take the stance that their in-branch automation is solely for their own customers. Others, take a more inclusive approach allowing non-bank consumers to use their facilities alongside their own clients. I have certainly experienced both sides of this question in different parts of the world.
 
As a fan of consumer-centric businesses, I favor the latter approach, although I understand the rationale of the “my customers only” principles. However, the policy thinking around “who will you serve?” becomes further convoluted when you recognize that many banks run promotions to attract new customers, offering money to new customers as a signing-up reward. Sometimes these incentive payments can reach £100 or more.
 
Surely, allowing non-bank consumers to use your branch automated services can be a powerful recruitment aid. I mean, you know exactly where they are at that point in time, what they are doing, and you have staff on hand to help and advise them appropriately.
 
Surely this is a good thing, right?
 
Once you truly embrace every consumer interaction as an opportunity to learn something new, to deepen the relationship, then you fundamentally change the possibilities for growth.
 
Traditionally, banking automation was mechanically sophisticated but depended on proprietary vendor software to work. Consequently, banks often faced substantial costs for even simple customizations, particularly if they had a mixture of hardware from different vendors. Under these circumstances it was difficult to personalize the consumer’s experience, or to differentiate yourself from your competitors in a meaningful way. An investment in vendor-independent ATM software ensures true portability across any self-service device, thereby reducing costs and creating a greater choice in hardware.
 
Happily, this restrictive situation has changed significantly with the growing market trust in vendor-independent, multi-vendor, ATM software. Additionally, the ATMIA’s new blueprint architecture clearly separates the task of terminal management from the payments switch, and embraces the versatile ISO 20022 messaging standard instead of the proprietary and more restrictive NDC protocol. These changes eliminate two of the greatest blockers to service flexibility.
 
Banks now enjoy ready access to affordable self-service technologies, freeing them to create any branch experience they want. The next leap forward in ATM channel excellence is the application of relevant, real-time consumer information in a way that benefits both the consumer and the bank. Specifically, this step involves the deployment of workflow orchestration and machine learning-based recommendation engines.
​
Picture
​Typically, the workflow management is achieved with a modern payments switch that interacts directly with the ATM client software for both the consumer information retrieval, and the transaction processing. Ideally, the recommendation engine will be integrated with the payments switch so that it can directly influence the consumer’s interactions. The recommendation engine should embrace both rules and a variety of machine learning methods to accommodate the widest possible spectrum of applied learning. Lusis Payments’ TANGO platform is a good example of an integrated workflow orchestration and recommendation engine.
So, how might a bank leverage workflow and recommendation engine technologies to improve their in-branch experience for both their own, and the non-bank, consumers?
 
Traditionally, an ATM would collect the card and PIN information before sending any information to the switch. This is all ‘dead-time’ during which the bank has no information about the consumer to act on.  In a more consumer-centric approach, the ATM sends the card information to the switch as soon as it is entered. The switch replies with relevant consumer information that can be used to personalize the services offered. In addition, advisory information can be sent to a branch agent’s device notifying them about the consumer, the machine they are using, and what should be done.
 
Furthering this illustrative scenario, the recommendation engine might determine that a non-bank consumer qualifies for an account sign-up special offer or other guest services based on the number of previous visits, the time of day, transactions performed, etc. Special offer vouchers could be dispensed via the receipt printer for redemption with a branch agent. Simple guest services could include the waiving of the acquiring fees in return for phone number information or other contact details.
 
Numerous other relationship-building options can be easily and affordably implemented with today’s technology. The biggest obstacle to the creation of consumer-centric ATM channels used to be the infrastructure but this is no longer true. A much larger obstacle, in my opinion, is the legacy mindset among senior stakeholders that rejects the ATM channel as a vehicle for innovation and richer consumer services.
 
The financial pressures causing banks to close branches on a large scale are highly unlikely to subside any time soon. This situation is further aggravated by regulatory pressures on banks to provide third party access to consumer data – thereby inviting new competition for financial services. Now, more than ever, banks need to focus more about personalizing the consumer experiences they create as a means to strengthen brand loyalty and growth.

NEXT GENERATION ATM SERVICES

9/14/2021

 
Picture

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.

Read More
next gen atm services
(Read More)

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

9/3/2021

 
Picture
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
(Click to read entire article)

Is the United States Ready for Cash Recycling?

3/23/2020

 
Picture
Picture
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.

Complete the form to the right to read the entire article.

    Complete form to read the entire article:
Submit
cash recycling united states

    lUSIS nEWS

    The latest company and industry news from Lusis Payments.

    Archives

    February 2023
    January 2023
    November 2022
    October 2022
    August 2022
    July 2022
    June 2022
    April 2022
    March 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    June 2021
    May 2021
    April 2021
    December 2020
    November 2020
    October 2020
    June 2020
    April 2020
    March 2020
    January 2020
    August 2019
    July 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    October 2018
    August 2018
    July 2018
    June 2018
    May 2018
    February 2018
    November 2017
    September 2017
    July 2017
    June 2017
    May 2017
    April 2017
    July 2016
    June 2016
    April 2016
    March 2015
    February 2015
    January 2015
    December 2014
    September 2014
    August 2014
    July 2014
    November 2013
    October 2013
    September 2013
    December 2011

    Categories

    All
    10k TPS
    2017
    2018
    2019
    2020
    2021
    2022
    2023
    4500 TPS
    AGILITY
    Apple Pay
    Article
    Artificial Intelligence
    ATM
    ATM Machines
    Atm Software
    Banking
    Bank Of America
    Base24
    BAYESIAN MODEL
    BENCHMARK
    Blockchain
    Blog
    CANADA
    Case Study
    Cash Recycling
    CIBC
    Cloud
    Cloud Strategy
    Credit Card
    Crypto
    Cyber Security
    DEMPSTER-SHAFER MODEL
    EUROPE
    Fraud
    FRAUD DETECTION
    GREENLAKE
    HP
    HPE
    HP NonStop
    INTERNATIONAL
    LATIN AMERICA
    Legacy Replacement
    Lusis Payments
    Mastercard
    Mexico Office
    Microservices
    MIGRATION
    Mobile Payments
    NEWS RELEASE
    North America
    Payments
    Payments Industry Partners
    Payments Infrastructure
    PCI
    Philippe Preval
    Pivotal Payments
    POS
    PSD2
    Retail Payments
    Security
    Tandem User Group
    TANGO
    TANGO Cloud
    TANGO V8
    TEAM
    Technical Bootcamp
    The Connection
    Toronto
    Toronto Office
    User Profile
    Venmo
    Whitepaper
    Zelle

    RSS Feed

lusis payments processing
LUSIS SOLUTIONS​ FOR
Payments Processing
Payments Hub/Switch
ATM Management
Legacy Payment Replacement
Card Management
Apple Pay
Dynamic Currency Conversion
Mobile Payments
Loyalty Card
Artificial Intelligence
​FRAUD


LUSIS LITERATURE

PRIVACY POLICY

​LUSIS EVENTS
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
HOME   |   TANGO   |   LITEPOS   |   SOLUTIONS   |   BENCHMARKS   |   ABOUT   |   WEBCAST   |   NEWS  
© 2022 Copyright Lusis Payments  
Lusis Payments, Lusis, TANGO and LitePOS are trademarks or registered trademarks of Lusis SA. Other parties’ trademarks referenced are the property of their respective owners.
  • Home
  • TANGO
  • AI FRAUD
  • LITEPOS
  • SOLUTIONS
    • TANGO VIDEOS
    • LITERATURE
  • BENCHMARKS
    • USER PROFILES
  • ABOUT
    • PARTNERS >
      • HPE GreenLake
    • VIDEO
    • EVENTS
    • PRIVACY
  • WEBCAST
  • Contact
    • CAREERS >
      • JOBS-UK
      • JOBS-FRANCE
      • JOBS-NA
      • JOBS-LA
      • JOB APPLICATION
  • NEWS
    • Market Insights
Proudly powered by Weebly