Revolution provides an effective boarding and application management tool
What is Revolution?
Revolution is the leading global customer on-boarding and service management platform for the payments industry. Through automation and extensive 3rd party data integration it allows acquirers, payment facilitators, ISOs and payment service providers to board merchants quickly and efficiently without increasing the potential risk, reducing the level of application fall out, reducing the cost of delivery, shortening the time to revenue and improving the customer experience. Revolution has a growing global footprint, currently serving merchants across 16 countries with a platform translated into 8 languages. It is truly the leading multi-region, multi-currency, multi-language solution.
In an on-demand generation, customer requirements and expectations of the payments industry and the services they consume have changed dramatically over the past decade.
The challenge for the participants within what is often a competitive sector is not only about keeping up with that change, but also ensuring that the infrastructure that underpins their capability is able to support the growing expectations of the customer, as well as giving them differentiators against their competitors. Merchants expect close to real time delivery of banking products and services, but this presents a challenge to service providers who operate segmented and often legacy platforms, paper-based applications, cumbersome boarding processes and have to handle increasing levels of AML and CDD regulation and the growing sophistication of fraud and risk.
How does it work?
Revolution provides boarding as a service, delivered to support multiple platforms and user environments through an intuitive web UI, mobile application and API for integration into the payments business’s existing capability if required. It’s principally delivered as a cloud-based application, hosted on the resilient technologi infrastructure. Revolution integrates more than 40 3rd party data sources into the platform so is not simply a well formatted data collection tool like many competing services but instead validates information as it is keyed through extensive business logic as well as providing search functionality to increase the efficiency and accuracy for the customer.
A standard business to business payments application is likely to make use of a number of integrated data sources including company data, address search and validation, tax/VAT search and validation, principle/UBO verification, bank account validation and proof of ownership, credit reference data and a whole multitude of other services depending on the requirement. Each one is seamlessly integrated through the single Revolution interface.
The platform also acts as the glue between multiple internal systems within the payments ecosystem. Rather than reinvention, Revolution often acts as a non-intrusive service layer, sitting on top of and integrating multiple platforms within the payments business, populating information within those systems through the application journey and instructing service delivery when the minimum requirements have been met. This delivers a joined-up service experience, removes manual processes and avoids the payments business from having to rip out or reinvent their entire infrastructure.
Revolution is not just about customer on-boarding either, it also offers comprehensive self-service portal functionality for merchants to monitor the progress of their application as well as manage their services in-life.
When used in conjunction with Prospect, our credit, risk management and underwriting solution, it’s possible to deliver an end-to-end automated boarding experience without compromising risk and fraud processes nor increase potential liability.
Support Multiple Sales Channels
Revolution provides an effective boarding and application management tool for sales performed face to face, over the phone and through customer self service ensuring you can provide multi-channel sales in one platform.
Increase the Application Conversion percentage
Through automating factors such as ID and verification for AML, integrated digital signature capability and validated data sources, Revolution reduces the risk of customer fallout thus increasing your sales conversion rate.
Reduce the cost per application and live service
By avoiding re-keying of data for application creation and in-life management, Revolution removes the need to resource ensuring a considerable reduction in overheads.
Decrease the application failure rate
Revolution can insist upon mandated fields ensuring data is both captured and electronically validated prior to submission generating fewer returns and rejected applications.
Faster delivery times
With 3rd party integration to hardware suppliers, acquirers and CRMs, a reduced amount of manual intervention is required improving the speed of delivery.
3rd party integration
Revolution is the glue between systems providing an efficient front end to capture and validate information whilst interfacing with your own internal systems ensuring a smooth internal process.
Pricing, margin and offer management
Extensive pricing and offer management capability allows you to control the offers made available based on your own pre-defined criteria.
Improved customer experience
Improved customer experience with increased customer response through live tracking of applications, Revolution ensures your merchants can be responded to timely and accurately.
Compatible with Prospect
Prospect is technologi’s credit, risk management and underwriting solution. When integrated into Revolution, it allows the boarding journey to incorporate full underwriting allowing for end to end automated service delivery without increasing potential liability or exposure.
Deliver a comprehensive customer self-boarding, field and telephone sales boarding platform within one global solution
Globalise your proposition without worrying about the challenges of customer on-boarding
Improve sales performance by making your services more accessible and reduce order fall out
Speed up the customer boarding process whilst lowering the overhead associated with processing applications
Reduce the level of failed and rejected applications increasing first time pass
Respond to merchants’ requirements efficiently and empower them to self-manage services
Control your customer offer, pricing and effectively manage margin
Use in conjunction with Prospect to deliver full credit, risk and underwriting capability within the boarding journey