Banking EPS

Electronic payment system

An Overview: The Customer

The Customer is one of the largest banks in Dominican Republic in the Latin America region. The Bank was established in 1963 and has emerged successful in distinguishing itself from the time of its establishment to offer credit facilities to small industries for meeting the savings and loan needs of the rural sector, and by opening savings and checking accounts with low deposits.

Key Challenges
  • Module for online payments and integration with the current system
  • Incorporation of new customers, maintain demographic data and migration of the reward points for the customer royalty program
  • They were using the proprietary American express's "Membership Miles International" (MMI) system. American Express stopped support for this application since last 4 years.
  • The application went on critical path as it was getting increasingly difficult for the bank to support and maintain this application on their own and that too remotely
  • The main concern of the bank was the possibility of loosing all the mails related information of their existing customers.
The Solution

This complex project was conducted to significantly enhance and improve the technical and functional coverage of the electronic payments system at the Bank

  • Putting in place a new Membership Miles International (MMI) system developed in AS400, replacing the banks old Mainframe system.
  • Management of Credit Card Royalty program to administer reward points earned or redeemed for American Express customers
  • Incorporated new customers, maintain demographic data and migration of the reward points for the customer royalty program
  • Migration of the customer's existing data from old MMI to new AS400 system.
  • User friendly menu, reports and screens developed for the process of enrollment setup, maintenance, inquiry and transfer for the royalty program.
Value Additions
  • Make your online payments
  • Payroll management
  • Payments to suppliers
  • Conduct charges automatic loan payments
  • Pay off credit cards
  • Making account transfers and other services.

These services are implemented by the Bank across the Electronic Payment System (PES) which is developed using Free RPG language and is currently deployed in the IBM I-Series platform.

Business Benefits
  • Includes SWIFT message capabilities within in electronic payments processing.
  • Addition of local interbank transactions (ACH Network).
  • Includes availability in electronic payments online for credit card payments of the Bank, so that the balances are updated real time.
  • Minimizing response times of system processes, increasing efficiency in the transfer, file distribution and posting.
  • Optimizing the SPE to ensure efficiency with the increasing volume of transactions from E-Banking.
  • Creating and integrating pre-notifications response structures.
  • Conceptualizing, designing and developing a new schema for PCI modification. (Encryption and Decryption of Credit and debit cards).
  • Addition of multi currency capabilities to the platform.