News

Stanchion Innovates to boost Ficanex Fintech offerings

Stanchion, a leading global Fintech solutions company, has been selected to develop and implement a new Fintech aggregation platform for The Ficanex Group, in Canada. Ficanex, formed as a partnership in 2000 between a group of credit unions and banks, is the operator of The EXCHANGE® ATM Network in Canada. The EXCHANGE Network is a shared services network that permits surcharge-free cash withdrawals, PIN changes, and inter-institutional deposits at ATMs across the country. It provides services to over 170 financial institutions, and over 5.5 million cardholders, across a network of over 3,300 ATMs nationwide. Ficanex’s main objective is to build a [...]

2017-10-16T07:24:49+00:00 September 11th, 2017|Categories: News|Tags: , , , |

Early Detection Fraud Solution In Action – A Whitepaper

Following a major data security breach, one of the largest financial services groups in Africa asked Stanchion for help in architecting and implementing a first line of defence against fraud at ATMs. It took us just six weeks to roll out a solution that protects the group through early detection of irregular transactions that evade industry standard transaction authentication and fraud detection methods.   TODAY’S THREATS DEMAND A MORE PROACTIVE APPROACH TO PAYMENTS SECURITY Any security breach in a financial institution’s payments environment—no matter the scale—represents a massive business risk. Proactive monitoring and management of financial transactions significantly reduces this [...]

2017-10-16T15:49:11+00:00 July 29th, 2017|Categories: News|Tags: , , , |

Stanchion Expands Into Asia-Pacific Region

Stanchion, a leading FinTech solutions company, has expanded into the Asia-Pacific region (APAC). Stanchion has opened its APAC head-office in Melbourne; this strategic geographical move will enable Stanchion to now have a truly global footprint. Stanchion develops and delivers FinTech solutions that consistently deliver high performance and total systems integrity across complex payment environments and enhances their capability. “APAC is a progressive market when it comes to electronic payments,” says Stanchion CEO Graham Williams. “We are excited to bring our market leading solutions to this region at a time when the market and the region are undergoing significant financial services [...]

2017-10-16T09:05:15+00:00 March 13th, 2017|Categories: News|Tags: , , , |

Transaction monitoring – who is watching the watchers?

Finding out how to monitor active/active environments without letting the tech get in the way Steve Kirrage, Director of Stanchion Payment Solutions, Middle East. Ask any financial IT operations team what their number one headache is, and the answer is likely to be unplanned downtime. Reducing downtime is easily a top priority for IT professionals working for banks, card services and payment processing companies, where any lag or downtime within the payments processing system is unacceptable. The challenge is that payment systems are getting more complex, rather than simpler which means ensuring large credit card and debit transactions are processed, [...]

2017-10-16T09:03:58+00:00 October 22nd, 2015|Categories: News|Tags: , , , , |

Postilion Office v5 – what to consider

ACI Worldwide released a significant upgrade to their Postilion Office in July this year. Our tech team investigated it and here are their headline thoughts. Performance is up Firstly, it’s a big upgrade so it comes with some significant improvements, but these come with the need for no less significant infrastructure upgrades. But before you think about the potential costs, let’s look at the ultimate benefit: performance. With massive payments environments such as retail banking or large retailers, there is always so much backlog that it can be almost impossible to find time to run a new process, conduct routine [...]

2017-10-16T09:08:18+00:00 October 22nd, 2015|Categories: News|Tags: , |

From where I sit…

Graham Williams’ view of the world of payments Since winning our first piece of business in the United States in August, Stanchion now operates across four incredibly diverse markets – the Americas, Africa, Europe, APAC and the Middle East. The trends and challenges faced by aggregators, banks and retailers across these markets look different at first, but dig a bit and you find they are remarkably similar. One common factor is that disruption is primarily forced by outside influences, such as changes in government, industry and card association regulations as seen with EMV migration in the US, the move to [...]

2017-10-16T13:48:05+00:00 October 22nd, 2015|Categories: News|Tags: , |

Proxama and Stanchion join forces allowing card issuers to plug-and-play new mobile services

Partnership sees combination of mobile payments and proximity marketing solutions with integration expertise London, UK, 9th September 2015: Proxama PLC (AIM: PROX), the international mobile commerce company specialising in proximity marketing and provider of end-to-end payment solutions for card issuers, and Stanchion Payment Solutions, the international payment solutions  experts today announced a partnership and international reseller agreement. The agreement will offer card issuers and processors the opportunity to design and deliver new services to meet the growing needs of their customers for sophisticated payment solutions. As a result of the partnership, Stanchion will resell Proxama solutions for NFC Mobile Payments, [...]

2017-10-16T13:44:18+00:00 September 9th, 2015|Categories: News|Tags: , , |

Stanchion and Ecentric Payment Systems ensure secure transacting with Futurex hardware

Transaction processing specialist Ecentric Payment Systems is boosting the performance and security of transactions by implementing hardware encryption devices supplied by Stanchion Payment Solutions. The Futurex devices are unseen to the general public, yet perform an essential function every time a credit, debit or other card is used: they make sure the information exchanged between point of sale, bank and customer account is completely secure. “By deploying the devices, Ecentric will be the first payments provider in Africa to deploy ‘point to point’ encryption (P2PE), thereby establishing the strongest protection possible for our Retailer customers and their brand. P2PE will [...]

2017-10-16T16:31:14+00:00 August 28th, 2014|Categories: News|Tags: |

Outsourcing payment gateway allows company focus on core business

Traditionally, retailers and service providers have managed their own payment systems, accepting the associated resource and skills headaches as part of the territory. However, in-house management of payment switches is not always the best or most profitable route, as they cannot be assured of optimal system performance. While payment gateways keep retailers and banks in business, they are often not managed in a way that delivers optimal performance. When managed in-house, the system tends to be managed reactively rather than proactively and is heavily reliant on a limited pool of skilled resources. These are specialist skills and they are in [...]

2017-10-16T16:31:20+00:00 July 28th, 2014|Categories: News|Tags: , |

A payments perspective on the Nigerian economic boom

With Nigeria having recently eclipsed South Africa as the continent’s biggest economy, it is worth taking a look the nation’s progress from the perspective of a service which is indispensable to the modern way of life – electronic payments. And electronic payments, in turn, depend on suitable telecommunications and banking infrastructure. The pace of change in Nigeria is remarkable and, having been in the country for frequent periods around the early 2000s as part of the birth of the modern payments industry in that country, change is nowhere more noticeable than in the retail banking sector. Having recently returned there [...]

2017-10-16T16:33:48+00:00 June 20th, 2014|Categories: News|Tags: |