Development of a Modular Payment Processing and Risk Management Ecosystem

The client faces significant challenges due to the complexity of the payment processing ecosystem, including rapidly changing regulatory demands, manual data entry reliance, and the need for automation in business processes. The existing system struggles to scale efficiently, leading to extended deal processing times and insufficient risk analysis capabilities, which hinder growth and operational efficiency.

A rapidly growing fintech company specializing in integrated payment solutions for diverse verticals, including eCommerce, healthcare, and education sectors. The organization seeks to expand its global payment processing capabilities and automate risk assessment procedures.

• Automate critical business processes to support business growth and reduce manual effort
• Develop a flexible, scalable payment processing system supporting multiple modules for customer onboarding, transaction management, and support
• Create an internal analytics and risk assessment platform for evaluating merchant creditworthiness and reducing processing time
• Implement integrated third-party APIs to streamline data retrieval and validation processes
• Reduce deal processing time by at least 80%, aiming for a 5-fold decrease
• Enhance security, compliance, and automation across the payment and risk management ecosystem

• A web-based portal for analyzing and scoring merchant credit risks based on credit history and external data sources
• Automation tools for retrieving merchant credit histories and Tax Identification Numbers via integrated APIs
• A set of modules supporting: merchant onboarding, contract lifecycle management, merchant customer portal, workflow automation for underwriting, single credential-based authentication, and transaction processing via API
• SDKs and tools for embedded devices such as POS terminals for secure transaction processing and mobile device integration
• Third-party API integrations including creditworthiness checks, identity verification, and risk data retrieval
• A secure, scalable authentication and authorization system for multiple modules

• Credit history and risk assessment providers
• Tax ID validation services
• Identity verification and compliance services
• Payment gateway and transaction processing APIs
• Regulatory and compliance monitoring systems

• System scalability to support increasing transaction volumes and user base
• High performance with transaction processing times reduced by at least 80%
• Exceptional security measures for sensitive data and credentials
• Compliance with relevant financial and data protection regulations
• Modular architecture supporting easy updates and feature additions

The implementation of the proposed system aims to significantly automate and streamline payment processing workflows, decreasing deal turnaround times by up to 80%. It will enhance risk assessment accuracy, support scalable growth, and improve operational efficiency, positioning the client for expanded market reach and improved compliance adherence.