For financial institutions and other payment service providers looking for a payments platform purpose built for driving innovation and to deal with the unknown future advancements of the payments industry, we offer TranzAxis. TranzAxis is an Open Development Payments Platform with Service-Oriented Architecture. Whilst it too can offer off-the-shelf solutions, it also comes equipped with a highly intuitive, very flexible SDK that enables the development of functionality limited only by the user’s imagination.
As the only channel that allows a financial institution to directly interact with their competitors’ customers, ATMs offer an opportunity for FIs to really differentiate themselves through value added services. TranzAxis ATM Management can turn a network of cash dispensers into a secure, lucrative customer relationship tool, maximising customer retention through the provision of a compelling user experience.
The TranzAxis ATM Management solution covers all aspects and functional areas of the ATM management process, from advanced transaction processing and comprehensive terminal scenario management to extensive security features.
Equipped with sophisticated system administration tools that provide easy ATM network configuration and advanced ATM monitoring that can also be accessed remotely, the solution also provides cutting-edge analytical tools for risk control, fraud detection and prevention, dispute management and extensive reporting.
TranzAxis ATM Management can be purchased as a turnkey solution, or can be extensively customised and integrated into the existing infrastructure to extend its functionality.
For financial institutions that want to be able to offer their customers flexible debit card products, TranzAxis Debit Card covers the entire product lifecycle management including various options for card issuance, activation, renewal and closure..
Our debit card solution offers everything FIs need to successfully develop and manage their debit card product portfolio to fit any customer type. The solution supports PIN-secured, signature, debit, prepaid and contactless cards with adjustable tariff fees and card usage restrictions with overdraft options to include set and temporary overdrafts. Debit products can be single or multi-currency with the capability for loyalty program management.
Compass Plus offers a number of options for their debit card solution: it can be purchased as a turnkey solution, it can be extensively customised and integrated into the existing infrastructure to extend the issuers functionality, or the advanced development tools provided with TranzAxis can enable the organisation to completely build their own unique solution.
For financial institutions that want to be able to offer their customers innovative credit card products, TranzAxis Credit Card covers the entire lifecycle management for this card type.
The solution offers comprehensive management and reporting tools that provide financial institutions, merchants and merchant networks with everything they need to develop and manage multiple types of credit card programs to fit any customer need; from a simple charge card to a revolving credit card with complex business logic.
TranzAxis Credit Card has a number of product configuration options available, including minimum payment calculation rules, interest accrual rules, commission and fee calculation, usage limits and restrictions, debt repayment and delinquency management rules, and statement configuration and distribution.
Compass Plus offers a number of options for their credit card solution: it can be purchased as a turnkey solution, it can be extensively customised and integrated into the existing infrastructure to extend the issuers functionality, or the advanced development tools provided with TranzAxis can enable the organisation to completely build their own unique solution.
TranzAxis Prepaid Card covers the entire prepaid card product range; from more simplistic offerings (e.g. one-time use magstripe gift cards) to more complex (multi-use EMV prepaid debit cards for corporate use) to more innovative (virtual prepaid cards issued at an ATM or on the internet).
As a payment tool, the prepaid card offers numerous benefits for customers, businesses, merchants and financial institutions. Whether providing a safer alternative to cash, enhancing loyalty programs or introducing services to the unbanked or underbanked market segments.
The TranzAxis Prepaid Card solution provides financial institutions, merchants and merchant networks with everything they need to develop multiple types of prepaid programs and to manage these end-to-end across their product lifecycle.
TranzAxis Prepaid Card can be deployed and configured to meet the requirements of any retail bank, credit union, retailer, ISO, prepaid program manager, and local and national card schemes.
For acquirers with merchants that range from large scale global giants to local newsagents, TranzAxis Merchant Acquiring removes the hassle of keeping up with changing requirements, whether technological, regulatory or consumer-driven.
The solution provides comprehensive application processing for effective merchant boarding, activation and management. TranzAxis Merchant Acquiring has a complex merchant hierarchical organizational structure for complete visibility and control (e.g. country - territory - merchant name - store - department - sub-department - terminal). Accounting rules, access rights, reports and settings can also be defined at any point within the hierarchy.
TranzAxis Merchant Acquiring provides the tools to ensure the effective management of merchant profiles, terminal configuration, account and transaction management, report generation, and the running of daily operations.
Compass Plus offers a number of options to tailor our merchant management solution to your requirements: it can be purchased as a turnkey solution, it can be extensively customised and integrated into the existing infrastructure to extend an acquirer’s functionality, or the advanced development tools provided with TranzAxis can enable the organisation to completely build their own bespoke solution.
Although there is no sure-fire way to protect against security attacks, TranzAxis Fraud Management offers multiple layers of protection, detection and prevention, which can substantially reduce the risks faced by any institution.
The solution provides financial institutions with the tools they need to quickly respond to new fraud schemes, enabling the quick development and configuration of new fraud prevention rules. These rules use a combination of transactional and object data, preset parameters, object risk scoring and historical data to analyse any transaction.
TranzAxis Fraud Management provides functionality to analyse customer behavior patterns and transaction flow, ensures alert generation, and enables operators to conduct investigations, describe rules and case actions, and document workflow.
The solution has been developed to be easily integrated into the existing infrastructure of any financial institution, with online integration protocols and flexible file exchange and processing modules.
TranzAxis Loyalty is a customizable solution for the implementation and management of diverse and innovative loyalty and rewards programs.
It enables issuers to implement and manage loyalty and reward programs that not only attract and retain customers but grow bottom-line revenue.
The solution enables the integration of loyalty functionality to credit, debit and other commercial products. Issuers can design an unlimited number of loyalty programs and create different rules for bonus calculation and redemption, as well as numerous options for bonus expiration.
Various bonus ‘currencies’ are available (points, miles, etc.) and the ability to transfer and convert these currencies between loyalty programs is fully supported. The currencies can be calculated in online mode (per transaction) or offline mode (for transaction or event-based bonuses, for example birthday bonuses or ‘refer-a-friend’ campaigns).
TranzAxis Loyalty provides all the tools required for quick customer enrolment, bonus point calculation and redemption, clearing and settlement, and integration with third party systems. Comprehensive reporting and analytical tools are also provided.
With instant card issuance, the customer no longer has to wait to receive their card and PIN by mail, as they can be issued and activated in-branch, enabling purchases to be made straight away.
TranzAxis Instant Issuance can get ready-to-use payment cards in customers’ hands in a matter of minutes. Not only does this provide a great customer experience, but it offers reduced risk and costs for the issuer, increases activation rates, card use and loyalty.
Meanwhile, the issuer no longer has to incur the cost of postage, cards lost in the mail or replacing stolen cards, with the further advantage of a reduced risk of card fraud.
Issuers can also reduce the amount of inactive card accounts, increase transaction volumes and interchange revenue, whilst securing loyal customers before they have left the building. As the card is issued in-branch, issuers have the opportunity to cross-sell to the customer face-to-face, building better relationships.
The functionality of this solution covers all aspects of card personalization, from EMV and magstripe data preparation to personalization and stock management.
TranzAxis Batch Issuance uses advanced technology to significantly speed up the issuance of all types of payment cards (including EMV and magstripe cards).
By offering both centralized and decentralized issuance, low and high volume production environments can be supported, increasing operational efficiency and lowering costs.
For financial institutions issuing cards in remote locations, decentralized issuance allows the penetration of markets where card delivery by mail is impossible. Rather than personalizing cards at the location where the secure data preparation is carried out, the issuer can transport the cards to different locations, reducing the costs and risks of transporting personalized cards.
The solution can be deployed quickly with minimal impact on the issuer’s existing infrastructure, with flexible tools for interface development and customization, and a variety of deployment and operation scenarios.
TranzAxis Batch Issuance is a secure and compliant solution, ensuring the safety of your data.
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Today’s consumers are not as loyal as they once were and are more likely to move bank than ever before. With an increasing number of reports around IT glitches at financial institutions, it is more important than ever to provide an excellent customer experience. Therefore, Compass Plus has designed a feature whose ultimate goal is to prevent downtime full-stop. TranzAxis Active-Active is a database clustering feature that enables a financial institution to avoid disruption to its operations by ensuring zero downtime. The active-active cluster is made up of two databases running the same services simultaneously. It achieves load balancing by distributing workloads intelligently across both databases in order to maximise efficiency and prevent locks and overloading, resulting in a significant improvement in throughput and response times. If one database fails, TranzAxis enables the seamless transition of traffic to the other database. TranzAxis Active-Active provides financial institutions with the knowledge that they can perform maintenance on their system, without disrupting their services – enabling them to be ‘always on and always available’. It also minimises any risks related to upgrading the system, as active-active database clustering final testing to be performed during the upgrade procedure itself.
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The Islamic finance industry is growing rapidly – at a rate of approximately 10-12% year-on-year. While this growth is predominantly in Muslim-countries - where Islamic banking was born over half a century ago - more recently, banks in non-Muslim countries around the world are taking interest in it and starting to offer Islamic banking products. However, to be successful in taking advantage of the growing Islamic banking trend, FIs need to offer customers convenient and innovative products that are Shari’ah compliant. In a continuously demanding sector, FIs need to be able to make changes quickly, adapting to customer needs and ensuring they are one step ahead of the competition. Compass Plus have extensive experience supporting FIs in their Islamic banking needs, offering them the flexibility and agility to build new products quickly and meet the needs of their customer base. Compass Plus’ highly scalable solutions are equipped to support digital banking and enable FIs to create new Islamic banking products that will rival both their Islamic, and conventional, counterparts.
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It is safe to say that cloud technology is continuing to gain momentum within the payments industry. The extreme scalability and agility it offers, alongside its support for quicker innovation and a lower cost of ownership, means that more and more FIs are turning to cloud-based infrastructures to help grow their business now and drive their strategy well into the future. Here at Compass Plus, we understand that moving to the cloud is an option that FIs of all sizes can take advantage of, and have supported numerous customers in their journey to deploy our open development payments platform, TranzAxis, in the cloud. Described as “a visionary product” by industry experts PayX (Spring 2020), TranzAxis was purposefully built to enable innovators to innovate. TranzAxis isn’t just ‘cloud-ready’ or ‘cloud-enabled’, it is cloud-native, meaning it is primed to take full advantage of everything cloud-based infrastructures offer and helps FIs to deliver ground-breaking and industry-leading products and services for the needs of today and tomorrow. There are many advantages to implementing cloud-native TranzAxis in this kind of environment, among these is providing FIs with the resilience and scalability they need to grow their business and to accommodate changing processing volumes without being hindered by hardware. Unlike ‘cloud-ready’ or ‘cloud-enabled’ software who have a more basic level of compatibility with the public cloud, TranzAxis can automatically scale up or scale down resources (without limit) dependent on load. For example, during holidays such as Black Friday, the cloud-native platform will increase resources automatically in real-time, something that other platforms cannot. While with system modernization and digital transformation in the spotlight, FIs around the globe are seeking for more ways to secure their future. Unlike utilising legacy or traditional infrastructures, implementing TranzAxis in a cloud-based environment offers FIs the confidence and flexibility to experiment and truly drive innovation, enabling them to respond quickly to market changes by building, testing and launching products and services tailored to their customers quickly, whether a specific segment or wider audience (and painlessly dispose of them if they don’t work out). We can’t predict what the future holds, but having an agile, cloud-native system at your core will help you to future-proof your business. |
