Bank and Payment Processing Software Solutions Vendor: Dependency or Partnership?
The WAY4 solution supports a large number of transaction types: both those that are made directly through payment systems and those that are not regulated by payment systems, and which are the majority in the Bank’s business.
September 25, 2013 - Kazan, Russia
“I came to the bank in 2004, and at that time a processing configuration was implemented in which the OpenWay solution was one of the elements (authorisation and back office), and a different company supplied the front office solution. At that time such a configuration was warranted by limitations on computing capacity and communication channels, which made it possible to separate processes of device management and settlements. But as client demand developed and grew, it became clear that tighter integration between front and back office processing was necessary. Clients were requiring more complex bank products, to obtain account statements and make various payments. This all lead to breakdowns in the business logic between the systems, making it difficult for the bank to work efficiently in creating new products and services. It was decided to move to a single system that would unite everything - both acquiring and issuing - in one core. OpenWay’s WAY4 solution was chosen as this system.”, - shares the secrets of a successful partnership between bank and vendor Artur Khabibrakhmanov, the director of “AK BARS” Bank’s processing centre.
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