Stanchion Payment Solutions
POWERING PAYMENTS CHANGE
According to Omdia’s IT Enterprise Insights 2021/22 survey, payment integration hubs for both issuers and acquirers have become a 2023 investment priority, with global spend on these hubs expected to reach $2.6bn in 2025.
Acting as a dual function orchestration and integration platform – payment integration hubs with efficient deep API integration capabilities and a composable architecture, enable financial institutions to process multiple payment types and centrally manage the orchestration process; support multiple channels, payment types, enhanced fraud/data analytics, cybersecurity and support functional lines of business, while also adding new payment rails and integrating with existing banking systems.
Are payment integration hubs on your organisation’s radar?
Founded in 2002, Stanchion Payment Solutions has transitioned from being a payment solution/systems integrator to a PayTech provider, offering a strong payment integration platform as an efficient start pathway to a fully orchestrated payment integration hub, which is geared towards powering payments change.
Developed with modernisation, transformation, accelerated innovation, improved management control, advanced analytics and efficiency in mind. Stanchion’s solutions aren’t solely about augmenting your existing core investment but protecting it as well. Lessening risk on traditional core systems during periods of innovation and accelerating deployment of new products and services to your customers are part and parcel of how we work.
Proven to accelerate the innovation cycle by 200%, the work Stanchion does continues to show compounding results for our clients. With over two decades in the industry, we enable business innovation.
Stanchion’s 20-year legacy lies in our approach to complex technical change in core back-end switch environments. In our DNA, the strands of skill, knowledge, and the global experience required to perform complex payment-specific API development, build accelerator components, and provide augmentation capability – interweave, informing our ability to assist clients inject pace and new functionality into, and simplifying the process of large and small iterative change.
Our aim is to provide changemakers and payment product owners with hyper-acceleration, enhanced control, greater oversight, and heightened security. Most importantly, we want them to do more, faster, and with less risk.
Change is constant; innovation is key.
Financial institutions are faced with multiple challenges when it comes to dealing with the payment innovation cycle, chief among these is ongoing reliance on existing investments while simultaneously needing to drive agile change to remain customer relevant. ISO20022 with its vast data opportunities combined with the rapid ecosystem growth of open API and cloud-based functionality that customers are choosing, create significant pressure on core systems to modernise and digitalise for payment organisations to remain relevant and grow revenue.
Over the last five years, we have encountered first-hand the business-change challenges our clients experience… and helped them manage it. Our in-depth understanding of the four main areas of the payments chain – Issuing; Acquiring; Instant Payments; and Omnichannel – helped inform development of Stanchion’s payment integration hub Verto which can offer your business value in each of these four areas.
A foundational building block to maximise your future payment integration hub starts with a payment integration platform that wraps your existing core systems, protecting them from change, reducing your operational risk/cost and setting you up for the rapid integration/orchestration ability to add on a composable architecture of solution enablers. Here you have a choice between solutions that offer lite API or deep API integration.
Stanchion believes and has direct experience that shows deep API integration mid- to long-term offers you substantial competitive advantage, whilst delivering greater greater efficiency for the system health of your core systems and operational efficiency for your payment operations centre teams. Stanchion’s foundational building block is our Verto Payment Integration Platform. With this in place, deeply integrated into your core systems, its composable architecture allows you to licence and layer on solutions as you need them, far more rapidly that you would ever achieve with change in your core systems.
- Consolidation: Verto provides a front-end message orchestration layer which efficiently distributes transactions across multiple different core systems.
- Efficiency with Safety: Verto enables rapid, low-cost, low-risk introduction of value-add functionality without disrupting existing legacy cores.
- Enrichment: Verto augments the configurable environment, allowing clients to gain greater control over functions, operations, and services.
- Innovation: Verto introduces innovative initiatives without the excessive time and cost of existing suppliers.
Verto is designed to do the heavy lifting by protecting your existing assets from operational risk and complexity while simultaneously freeing up your product and payment change teams to delivery innovation faster.
Perfect alone or as part of a larger whole package
Stanchion’s trifecta comprising Verto (the product); SwitchCare (the managed service); and Integration-as-a-Service (our experience, domain knowledge and skills) – offers clients the very best Stanchion has to offer.
With our strong global customer base of Verto-contracted clients – we’ve seen time and time again that the longer organisations make use of our capabilities, the faster they’re able to deploy and deliver greater relevance to their customers and merchants. From year three, these organisations find themselves at the forefront of financial institutions – innovative go-getters that can keep pace with customer requirements.
In the same way that financial institutions are looking for the ‘ideal’ solution; Stanchion prides itself on identifying its ‘ideal’ client: an astute professional wanting to take control of payment change, who wishes to tackle the innovation cycle with efficiency, while ensuring their current operations remain unaffected throughout.