Payments Services Factory Solution for Financial ServicesOptimizing payments processing and risk management, while reducing costsThe Payments Services Factory is a payments integration and processing framework designed to offer interoperability with Microsoft partner and legacy banking applications and processes. The solution orchestrates the lifecycle of payments and provides business process management (BPM) and business activity monitoring (BAM) tools to monitor the state of operations. Data transformation, technology adapters and business rules are implemented to direct payments from the delivery channels through the back office of the bank, utilizing payment applications and services as required, before being delivered to the appropriate clearing and settlement mechanisms. Financial messaging, especially when built upon industry standards, can form a foundation platform for the development of a payments framework. Integration technology, data transformation, and workflow management are used to orchestrate transaction flows among applications and clearing systems. In addition to messaging, some commonly used processes are required for payment processing, such as validation, routing, exception management and repair. By developing these processes as reusable services, the message infrastructure becomes more than an integration framework, taking on the nature of a business architecture where the lifecycle of a payment can be mapped, calling the appropriate services as necessary. Conceptual architecture
Microsoft's vision for the Payments Services FactorySimplifying interfaces through a common messaging framework Centralizing transaction monitoring and exception management to eliminate redundant operations and improve performance Increasing the straight-through processing (STP) rate by reducing exception rates and automating more of the exception management process Improving fraud detection by building cross-payment system predictive models Reducing the cost of compliance by simplifying and normalizing payment processes, as well as automating the reporting as much as possible Providing greater transparency and reliability to corporate and retail customers Reducing the time and cost involved in introducing new payment products by facilitating the integration of new technology with the existing infrastructure
Realizing cost savings and efficiencies in your back office processing environmentThe legacy processing environment struggles with a myriad of different applications and interfaces among operational and technology silos. By rationalizing integration technology and implementing a consistent financial messaging framework, financial institutions can gain processing efficiencies in this commodity part of payment processing. | Business Challenge | Solutions |
|---|
Increasing costs per transition as support costs rise on back end, legacy systems.
Changing market practices and regulation, which requires higher investments and raising operational costs. Legacy systems are brittle, extremely expensive to change and shrinking IT budgets. | BizTalk Server is Microsoft's Integration and connectivity server solution that allows organizations to more easily connect disparate systems. Including over 25 multi-platform adapters and a robust messaging infrastructure, BizTalk Server provides connectivity between core systems both inside and outside your organization. BizTalk Accelerator for SWIFT (A4SWIFT) extends the BizTalk Server environment to provide the most comprehensive, reliable, and secure delivery of financial messaging using the SWIFT format and network for customers in banking, capital markets, payments, and corporate finance. |
Providing institutions with enhanced operational control and risk managementOf critical importance is the ability to provide operations with material business information about the state of payment operations regardless of client, payment type, delivery channel or settlement method. | Business Challenge | Solutions |
|---|
Risk management is a top priority. It is essential to have visibility across all lines of process to determine the level of settlement and operational risk posed by clients and settlement parties. Institutions require the visibility to quickly answer key questions about payment operations, such as: What is my payment volume and value by payment type, by currency, or by key clients? What critical transactions are pending some user intervention, such as funds authorization or watch list approval? | SharePoint Products and Technologies provide enterprise-scale capabilities to meet business-critical needs like managing content and business processes, simplifying how people find and share information across boundaries, and enabling better informed decisions. SQL Server delivers a rich set of integrated services that enable operations and product managers to do more with payments data; such as query, search, synchronize, report, and analyze. Data can be stored and accessed in the largest servers within the data center all the way down to desktops and mobile devices, enabling banks to have control over their data no matter where it is stored. |
|
|
