BHMI
Modernizing the Payments Back-Office

Efficient and scalable payment operations play a critical role in the success of financial services companies that process payments. However, with the growing demand for faster payments, financial services companies are faced with the challenge of supporting real-time payments alongside traditional payment methods.

The Biggest Hurdle

One of the biggest hurdles to overcome is legacy batch-oriented software and processes that were built decades ago and are unequipped to handle real-time processing. This is creating a bottleneck in payment operations because no matter how fast payments move along the network, cumbersome back-office processing slows everything down.

This challenge has come to the forefront because companies are starting to lose market share to competitors that are delivering more value-added services and faster money movement. Legacy backoffice environments are also exposing companies to rising costs, risks, and liability.

For example, settlement processing cannot go any faster than the availability of the transactions to be settled. Traditionally, settlement has been performed as part of batch operations. Transaction data is stored as it is received and then settlement processing occurs at a certain time window. This is the wrong way of doing things for real-time payments. All processing should take place immediately and there shouldn’t be delays waiting for daily cutovers to occur.

Overcoming the Challenge

One of the best ways to overcome this challenge is to transform payments back-office operations to support real-time processing. BHMI is a highly regarded provider of software solutions specifically designed to modernize and optimize the back-off processing of electronic payments. It is renowned for its flagship product—the Concourse Financial Software Suite®. This dynamic and flexible software solution supports all types of electronic payments, including debit, credit, prepaid, ATM, POS, mobile, P2P, and real-time payments.

“Whenever a payment is made, it flows into a front-end system for authorization. Once the payment is authorized, the back office takes over,” says Michael Meeks, SVP, software development, BHMI. “The back office performs critical functions like transaction reconciliation, settlement processing, and funds movement. This also includes assessing transactionbased fees and managing chargebacks and disputes.”

Moving from Batch to Real-Time

Concourse's continuous processing architecture and powerful rules engine enable companies to compete successfully in the rapidly changing world of payments. For example, BHMI’s solutions allow financial services companies to improve operational efficiency by supporting all payment methods and data sources in one integrated back-office solution and obtaining valuable insights via real-time access to current transaction data and financial positions. It also allows companies to receive payments faster, make settlement windows shorter, react to current cash positions better, and respond to customer requests more quicky.

Concourse's continuous processing architecture and powerful rules engine make it the ideal choice for modernizing and optimizing back-office payment operations

Concourse’s ability to modernize the payments back office enables financial services companies to take advantage of the growing and changing opportunities in the payments industry. This includes being a catalyst for improved customer satisfaction, differentiation, and business growth.

“Concourse's continuous processing architecture and powerful rules engine make it the ideal choice for modernizing and optimizing back-office payment operations,” says Meeks.