Payment Systems Transformation

Reduce payment operations and lower support costs

Industries/ Banking & Financial Services/ Retail Banking/ Reshape Core Retail, Payments and Cards /Payments Transformation System

Each month, your payments system acquires more users and a higher proportion of electronic transactions. Supporting new growth demands scalability and real-time responsiveness, which most legacy systems cannot easily accommodate. Often they treat the mix of payment streams as separate activities, resulting in mixed-format messaging, duplicate processes and redundant modules that prevent flexibility.

Our Payments Systems Modernization solution uses an open framework and consulting-led methodology to incorporate your existing investment and then accelerate transformation with compatible components from our partners. Over time, our solution can reduce both payment operations and systems support costs. Benefits include:

  • An improved customer experience
  • Digital and mobile capabilities
  • Innovative payment solutions

Our Payment Systems Modernization solution can reduce payment operations and systems support cost by up to 30% and increase straight-through processing (STP) by up to 90%.

Our solutions:

Faster Payments Systems
Faster payments systems will join current payments systems — EFT, wire transfers and Automated Clearing House (ACH) —to meet customer expectations for a ubiquitous, speedy and convenient payment service while helping to reduce end-to-end risk exposure.

Next-generation US payments system, or Immediate Payments, is an approach to modernizing US payments systems to help streamline processes, enable innovation, and reduce risk.

NTT DATA offers a payments transformation solution that includes a readiness assessment for US banks seeking to modernize payments infrastructure and processes. We also provide system integration, impact assessments, and faster payments consulting.
Payment Insourcing Workbench and Dashboard
Get a single view of all incoming and outgoing payment transactions with our Payments Insourcing Dashboard - a front-end application that interfaces with your payments back-office operations. Use it to access complete visibility of all payment transactions, initiate repairs and flag approvals.

Our Payments Workbench accelerator offers comprehensive exception management functionality required for smooth transaction processing and seamless problem resolution.

Some of the key features of our payments tool suite include:
• Defined user hierarchy — Customizable screen layouts per user roles
• In-house and insource payments summary — Summary of payments status classified by instruments, incoming channel, outgoing channel, acquisition mode and charge option
• Search and drill down functionality for viewing specific transaction status and making modifications
• Reporting capabilities
Payment Modernization Consulting

Transforming your existing payments systems into a unified payments hub is a complex process. It’s made more critical by the fact that payments comprise about one-quarter of most banks' revenue. Depend on the domain knowledge of experienced payments experts at NTT DATA to design and implement your transformation strategy.

Our consulting methodology comprises business process analysis, domain modeling, current-state assessment and architecture blueprint and roadmap development.

Specific consulting services include:

  • Rapid assessment to prescribe a payments strategy for streamlining operations, improving STP rates and reducing operating costs
  • Customized application development and management services powered by proven solution accelerators
  • Compliance services that streamline payment processing operations
  • Payments quality assurance and testing for impacted systems, internal and external interfaces, data validation requirements and more
Reshape Core Retail, Payments and Cards