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Implement conditional acceptance rules for deposits and fixed and rolling reserve
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What is Prospect?

Prospect is a new generation credit and risk solution built to support merchant on-boarding and dynamic in-life management. In a sector of the industry that is often dominated by manual processes and a dependency on legacy, expensive, hard to administer systems, technologi have created a platform for a new generation of payments businesses.

Credit risk and fraud is a rapidly evolving and sophisticated challenge where even minor oversight can cost the industry materially. Prospect is about bringing together a combination of information collected from the customer, combining it with 3rd party data, industry trend analysis and insight learned from existing merchants through machine learning and big data analysis within that sector to form a live picture of potential risk and exposure.

Industry Insight

Potential Liability Calculation

Merchant Supplied Information

Scheme Tools (VMAS/MATCH)

3rd Party Data

Transaction History Analysis

The Challenge

The management of potential exposure from credit risk is often considered a dark art. It is an area traditionally tough to manage in an automated way within a payments business given the evolving trends that present new challenges on a regular basis. Automated capability has often been utilised to support low level validation such as ensuring a merchant’s credit score is at a suitable level, that their sector is not considered high risk or out of policy for the payments business and that their transaction spread and ATV doesn’t present risk beyond acceptable levels. The issue with these automated tools is that they are not integrated with changes in the market or importantly, the payment business’s live knowledge of that sector through its existing merchant base.

In a sector where merchants are increasingly demanding instant access to services payments, businesses are having to find the balance between responding to that merchant demand, but in a way that does not leave themselves exposed to potential credit risk or fraud.

How does it work?

Prospect is a solution that supports payment service providers to assess the risk of doing business with a merchant both at the on-boarding stage but also in-life through its extensive monitoring capability. Unlike traditional automated risk underwriting tools, Prospect goes much further than the softer assessment elements such as credit score and sector and looks at other insight to form an accurate view of the potential risk and liability that the merchant represents. This insight is generated from a number of sources including industry averages and expectations, live merchant experience where the system looks at the existing back book of the payment service provider and analyses transaction data to form opinion, scheme tools and data sources to check for earlier concerns with the merchant and combines that knowledge with traditional 3rd party data and the information provided by the merchant at the time of on-boarding to accurately calculate risk and liability.

Also, rather than simply offering a score card approach to risk assessment which is potentially open to manipulation, Prospect includes a decision tree matrix where the assessment of risk for any given merchant can take multiple routes depending on the information supplied and obtained. Rather than simply declining merchants, this greater insight can give payment service providers better visibility of risk and allow them to make more informed and calculated decisions.

Rules are managed simply through a highly configurable user interface allowing the payments business to add and manage various rules within the decision tree that is used to arrive at the ultimate decision. With an integrated workflow, applications that are pre-approved, approved, declined or referred are visible through an intuitive UI. The UI details the insight used to make the ultimate decision as part of the merchant’s application and allows users to further interrogate the decisioning process. The user can progress applications that have not been auto-approved and even set conditional approvals such as the implementation of a deposit, fixed or rolling reserve.

The in-life system looks at changes to the business’s status or the principles within that business that may affect the desire to do business with them. It also provides extensive transaction analysis looking to spot suspicious trends such as out of character transactions, excessively high ATV’s and transactions that are outside of normal operating hours. Alert thresholds are configured within the platform and can be linked to auto service suspension or holds on funding if severe risk is identified. The solution supports both regulatory and scheme compliance obligations.

Prospect is traditionally offered in conjunction with technologi’s Revolution on-boarding platform although can also be contracted independently and integrated into an existing on-boarding solution using extensive API functionality. When used alongside Revolution, payments businesses can deliver automated end to end on-boarding including risk assessment without compromise. When used in conjunction with Velocity, the technologi money settlement engine conditional approvals can be effectively controlled and carried through and implemented as part of the boarding journey.

Prospect highlights

On-boarding and in-life risk management in one global solution

Prospect delivers a solution that allows you to meet regulatory and scheme obligations and secure your credit exposure whilst also responding to the immediate demands of merchants both during boarding and the lifetime of the service.

Create rules based on live experiences

With the ability to combine hard data such as credit score or MPL along with your existing industry knowledge, you can fully influence your decision making.

Integration flexibility

Prospect can be incorporated into an existing Revolution installation or operated as a standalone service integrated via a REST web services API whilst maintaining the benefit of the UI for rule administration.

Dynamically amend rules and create triggers

Quickly add or edit rules using different assessment factors and grouped by type and MCC.

Identify and respond to emerging risks

By monitoring the existing back book coupled with industry insight, Prospect allows you to quickly respond to emerging trends ensuring your credit losses are reduced.

Simple and cost effective implementation

As a platform that has been built for a new generation of PSPs and FinTechs, Prospect is quick, easy and cost effective to implement and manage.

Compatible with Velocity

Use in conjunction with Velocity, the technologi settlement engine, to implement conditional acceptance rules for deposits and fixed and rolling reserves.

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