Watch New Video: Innovation Through Collaboration at OpenWay Club Venice 2018

OpenWay Club is a perfect platform for exchanging ideas about how to grow and profit in financial services. We started 5 years ago as a small community of OpenWay team and WAY4 users, yet have grown into a international network of industry experts. Club members meet to discuss new business models and digital payment strategies. 

In 2018, the leading banks and processors from all over the world networked with each other during the interactive design thinking workshops and discussed how to leverage the latest WAY4 solutions for business growth. The innovation sessions were facilitated by our special guest, Eugene Shteyn, an expert in scalable innovations from Stanford University.  

How To Join The OpenWay Club?

If you have ideas and insights into how to significantly improve the customer experience or generate new revenue streams in payments, please contact us. Participation in the OpenWay Club is generally by invitation-only or on a member-nominate-member basis, however we are open to welcoming new faces. 

Name *
Name
180425_349.jpg

OpenWay Met Fuel Card Leaders at IFSF 2018

IFSF conference

OpenWay took part in the IFSF annual conference, one of the most important global events for the retail fuel sector. Key fuel industry players met to discuss top business and technology trends impacting retail fuel and convenience store operations. The conference in Hamburg, Germany on November 6-7 attracted over 100 delegates. The hot topics this year were enhanced customer experience, open payment infrastructure, and fleet business digitalization.

IFSF (International Forecourt Standards Forum) is a community dedicated to enabling technology standards to benefit automotive fuel and energy retailers. OpenWay, a developer of the end-to-end digital payments software for fleet card issuing and acquiring, holds a technical associate membership of the IFSF. This allows us to collaborate with the IFSF working parties on developing and incorporating the standards into our solutions.

“We believe that the IFSF organization will make the fuel industry implementations easier thanks to its ambition for a single standard. For OpenWay, this conference is another good opportunity to interact with different actors across the industry to get valuable insights and streamline our technical communications. The IFSF membership helps to position our company as a technological leader in the fuel payment industry,”- comments Frederic Richel, consultant at OpenWay.

The conference is a good opportunity for representatives of global fuel companies, technical suppliers, card acquiring processors, and consulting companies to network. The following industry bodies also met during the conference: 

  • Conexxus: a non-profit, member-driven technology organization dedicated to the development and implementation of standards, technologies innovation and advocacy for the convenience store and petroleum market.

  • NEXO: an open, global association dedicated to removing the barriers present in today’s fragmented global card payment acceptance ecosystem.

  • OMG: one of the largest and long-standing non-for-profit, open-membership consortia developing and maintaining computer industry specifications.

  • NACS: the National Association of Convenience Stores & Fuel Retailing, serves the convenience and fuel retailing industry by providing industry knowledge, connections and advocacy to ensure the competitive viability of its members' businesses. 

The main discussions focused on the technologies that can help to create a superior customer experience in fleet payments:

  • Frictionless payments such as “1-click” button, recurring, payment method alternative available, mobile checkout

  • Invisible security: moving from PIN capture to biometrics

  • Value-added services through new technologies such as voice assistance, cashier-less stores, AI for service personalization and fraud prevention. 

During the conference the targeted workgroups elaborated on the readiness of the current infrastructure for open payments and digitalization. Now IFSF is working on the standard for APIs for fuel stock management on the OAS 3.0 framework, EMV fleet tags, an acceptance protocol for tokenization and wallets, and a MIG (Message Implementation Guide) similar to the NEXO standard of the ISO 20022 protocol. Security workgroups discussed the new approaches to handling customer data. With GDPR now in force more data is classified as sensitive, which is moving the industry to a new security level, such as AES 256 encryption.


WAY4 Fleet Cards is an integrated software solution developed by OpenWay for end-to-end fleet cards issuing and acquiring. It is designed for fleet card operators that are willing to transform their card platform and grow business locally and globally. The WAY4 Fleet Cards comprises:

  • One modular platform for end-to-end fleet card lifecycle management: issuing, acquiring, transaction switching, authorizing, invoicing, settlement, reporting and digital channels;

  • Support of various types cards: fleet, payment, loyalty, cobranded and combined, both open loop and private label; 

  • Embedded value-added services for fleet cardholders based on customer data analysis, loyalty programs, tokenization and mobile payments, wallets and other alternative payment methods.


“Merchants Can Do Their Business without Banks” - Interview with Sophocles Ioannou on Payment Trends in Europe

Watch the interview with Sophocles Ioannou – Regional Manager, Mediterranean and Levant, OpenWay.

He comments on the latest trends in the European payment space:

“Fintechs can easily do the job that traditional bankers were doing in the past. In such circumstances, a relationship with a vendor should go beyond ordinary and become a partnership."

Find more videos from our payment experts on our YouTube channel.

Sophocles_Ioannou_Sales_OpenWay.jpg

Striving to capitalize on the potential benefits of Open Banking? Welcome to the OpenWay presentation at MoneyLIVE Summit in London!

Moneylive_London_01.png

OpenWay is glad to invite you to our presentation at the leading retail banking conference in Europe: MoneyLIVE Summit, 26-27 November 2018, London

Why to attend?

  • Find out new business models that financial institutions exploit to take advantage of a new Open Banking

  • Learn how leading financial institutions on WAY4 drive the digital payments transformation

  • Gain innovative insights about Open Banking, omni-channel payments, big data, AI, from the market experts

  • Watch demo of the top-ranked WAY4 Wallet, #1-ranked WAY4 CMS (Card Issuing, Merchant Acquiring and Payment Gateway), innovative WAY4 PSD2 Hub and other software solutions at the OpenWay stand 

Come to our presentation!

  • November 26 at 11.50am, Jet Stage: “Open Banking today: 4 case studies from European and global leaders” 

We will be pleased to sit with you and learn more on your needs to enable us to address them in the most efficient way.

Go!OpenWay

 On November 4th OpenWay kicked-off its first official Fun Run.

On November 4th OpenWay kicked-off its first official Fun Run.

Every day we run projects, tests, businesses and lives. But what about an actual run? 

On November 4th OpenWay kicked-off its first official Fun Run, a cross-country open-air run through the pine woods. The diverse participants of all ages – engineers, developers, and sales managers at OpenWay and their families – challenged themselves with 1-, 5, and 10 km races. 

“To some, this distance was an easy walk, a routine workout, whereas others faced it like a real challenge. At the end everyone was happy. And such a peaceful and homely atmosphere, with kids, families! It seems that everything worked out!” said Olesya Prischepa, the Go!OpenWay organizer and digital banking product manager in one person.   

A Different Kind of Teamwork

 “A Weekend With Colleagues? For some it may sound crazy that you can enjoy pastimes with your colleagues outside work. But if this pastime is something different from the day job, spending a time in a company of intelligent and inspiring people is actually a good thing! It helps to get to know colleagues better, see them from a new angle, and this improves communication at work, too. Sometimes the best ideas come to you when you’re not in the office!” – says a race participant.

What’s Next? 

As OpenWay is a global company, we want to challenge other local teams as well. It’s pleasant to run in the woods, but running on the sunny beach in Indonesia or along the North Sea coast can be a great out-of-office experience, too.

Cambodian Fintech Startup Clik Secures Seed Funding From OpenWay

holiday-shopping-1921658_1280.jpg

Cambodian payment startup Clik has announced the closing of a $2-million seed funding round led by global tech firms Limestone Technology and OpenWay and joined by several angel investors from Cambodia’s retail sector.

In an official release, the startup said it is considering raising an additional $1 million to further complement its latest funding round. Founded in 2016 by serial entrepreneurs, Matthew Tippetts, Skye Cornell and Darren Jensen, Clik is a payment gateway and aggregator that aims to provide a safe, seamless and simple payment experience.

Through utilisation of the latest technology, including mPOS, machine learning, and biometrics, Clik’s payment aggregator app facilitates swift payments using their own e-wallet or other platforms.

The company says it will be officially launching its platform in Cambodia in Q2 of 2019 upon receiving its Payment Service Provider license from the National Bank of Cambodia.

By targeting the Cambodian market, Clik will be looking to leverage on internet economy boasting over 7 million internet users and 8.4 million smartphones, which is also seeing a growing electronic payment industry.

According to Clik Co-Founder and Chief Technology Officer Darren Jensen, the proceeds from the seed funding round, which is nearly complete, has been used to drive product development for the beta version and commercial release preparations.

Clik’s funding comes in the same week as a mega-deal announced by Grab, which has paved the way for it to become the first company to launch e-money licensed payments services across six major ASEAN countries. Grab announced yesterday that it raised a $50 million strategic investment from Thailand-based KASIKORNBANK (KBank), which at the same time, marks the entry of its payment arm into the Thai market, having already established operations in Singapore, Malaysia, Indonesia, Vietnam, the Philippines. 

Source: Deal Street Asia

BORICA: The Migration to the WAY4 Card Management System is Underway

BORICA_new_generation.jpg

BORICA gathered nearly 100 client representatives from the Bulgarian banking sector together for a seminar dedicated to the BORICA New Generation program. This project to implement a new, modern platform for card authorization, processing and real-time fraud prevention started at the beginning of 2018 and is expected to be completed by the middle of 2020. The WAY4 software solution is developed by the leading software supplier, OpenWay. Its card management, terminal and fraud prevention technology provides reliability, security, flexibility and a high degree of parameterization to support rapid deployment of new products and services. 

"There is a large-scale project of the bank migration to the new payment platform, including ATM management, POS switching and merchant acquiring, 3D Secure e-commerce gateway, and card issuing. From now on, banks have to plan and budget for the migration within their organizations. The process itself includes participation by both banks and BORICA and a number of subcontractors, which requires a high degree of consistency in mutual work," said Miroslav Vichev, CEO of BORICA.

The WAY4 card solution is available on a SaaS basis.

"It is complex and multifunctional and also includes modern fraud prevention and risk analysis functionality, which offers much greater possibilities than that we have had so far," explains Radoslav Dimitrov, director of cards and terminals, BORICA.

WAY4 also helps with the implementation and marketing of new products and services within a short timeframe, streamlines processes, services and functionalities and ensures a high level of service availability. "The system is duplicated in two separate locations, each of which has standby capacity," he added.

"We chose the WAY4 CMS (card management system) because of its rich functionality. The ability to parameterize products and services enables banks and users of the system to quickly achieve their business goals," explained Anna Angelova, director of payment services at BORICA. "The system is offered on a cloud service basis, which allows customers to save money and gives them a high degree of flexibility when launching new products and services," she added.

The migration process also involves transferring participants with their own authorization systems to the newly-built National Switch, plus the migration of ATMs, POS terminals and 3D Secure to WAY4.

"The ATM network management and monitoring system will be offered as a service and can be used by all banks in Bulgaria, not only those in the BORICA card model," said Anton Borikin, head of ATM payment acceptance and POS, BORICA. The bank's payment levels will depend on the functionality of the bank, he added.

The WAY4 system also has strong functionality to prevent card fraud with high speed and reduced response times.

"In practice, fraud monitoring is integrated with the card management system, which includes risk levels and scenarios that trigger automatic alerts," said Yassen Yanev, head of card fraud protection at BORICA.

"The migration schedule of each institution, as well as its financial dimensions, depend strongly on the business priorities and the specific resources and time available at the banks," said Katerina Blagoeva, program manager "BORICA New Generation". Balgoeva expressed the readiness of the team to cooperate as efficiently as possible with banks in their transition to the WAY4 system.

Source: BORICA official website

2018-10-17-Borica3.jpg

Willing to leverage Open Banking? Join OpenWay at the leading payments events in the Nordics and in Greece!

OW_Banner_Moneylive.png

OpenWay is delighted to invite you to our presentations at the leading payments innovation events dedicated to Open Banking in Europe:

Why to attend?

  • Find out new business models that financial institutions exploit to take advantage of a new Open Banking

  • Learn how leading financial institutions on WAY4 drive the digital payments transformation

  • Gain innovative insights about Open Banking, omni-channel payments, big data, AI, from the market experts

  • Watch demo of the top-ranked WAY4 Wallet, #1-ranked WAY4 CMS (Card Issuing, Merchant Acquiring and Payment Gateway), innovative WAY4 PSD2 Hub and other software solutions at the OpenWay stand 

Come to our presentations:

  • November 7: “Open Banking now: 4 case studies from European and global leaders” at MoneyLIVE Nordic Banking 2018 

  • November 22: “How National Bank of Greece transforms the card business for an open banking future: strategies, goals, digital payments platform, partnerships” (presented by NBG and OpenWay) at the 16th Bank Management Conference

We will be pleased to sit with you and learn more on your needs to enable us to address them in the most efficient way.

OW_Banner_Greece.png

Do not miss your revenue stream! Register for the Omni-channel payments workshop at Payvolution in Milan.

OW_Banner_Payvolution_2018.png

We invite you to our workshop “Omni-channel payments for new revenue streams: wallet, e-commerce, open banking – business cases and new technologies” at Il Salone dei Pagamenti Payvolution, the major payment industry event in Italy (Milan, November 7-9). The workshop is organized by OpenWay, the global leading digital payments software.

Why would you join us?  

  • Take an insight on the most efficient business models and use cases in digital wallets, traditional and e-commerce acquiring and open banking.

  • Get the expert opinion on the latest technology trends: contactless, QR, tokenization, cloud payments, data analytics, PSD2 Hubs.

Save the date: November 7th, 11.00 – 12.00

Our agenda:

  • Omni-channel payments for new revenue streams: wallet, e-commerce, and open banking - Dmitry Yatskaer, Chief Technology Officer, OpenWay

  • Transformation to improve the customer payment experience: case study of National Bank of Greece - Sophocles Ioannou,
Regional Manager - Mediterranean & Levant, OpenWay

  • Tourist app-as-a-wallet: how to generate new revenue streams on WAY4 - Ksenia Shibanova, Product Marketing Manager, OpenWay

  • E-commerce, POS and omni-channel acquiring: how to boost your growth - Dmitry Yatskaer, Chief Technology Officer, OpenWay

After the workshop we will be pleased to sit with you and learn more on your needs to enable us to address them in the most efficient way.

Book your demo session/discussion slot now!

Acquirers on WAY4 Platform to Benefit from NEXO/ISO 20022 Deployment

Brussels, 9 October 2018

OpenWay, a recognized leader in digital payments software, has implemented the nexo Acquirer protocol on the WAY4 platform. Now acquirers who run their payment processing business on WAY4 can use ISO 20022 to enhance their payment acceptance interfaces with extended transaction data and improved interoperability across their acquiring networks.  

The rapid development of new payment acceptance technologies, next-generation terminals, and new collaborative models in the payment market have driven the adoption of ISO 20022. Compared to ISO 8583, the incumbent standard for card payments, ISO 20022 enables greater security and flexibility. This is important for easier customization and supporting value-added services based on transaction data. The protocol caters for growing diversity in the payment industry while maintaining standardization and interoperability.       

“Open and technology-neutral, the nexo Acquirer protocol strikes market players by its business-oriented nature and great potential for cross-border growth. Our customers can leverage it to reach a new level of financial services personalization thanks to the XML-based format which significantly enriches transaction data. WAY4 users can reduce maintenance costs when growing acquiring network as the protocol is completely independent in terms of terminal manufacturers, hardware and acceptance technology,”- comments Dmitry Yatskaer, CTO at OpenWay.   

Acquirers on WAY4 can deploy the nexo Acquirer protocol to connect merchants directly or via any intermediary, such as payment facilitators or service providers. The protocol can be used to connect any types of payment acceptance devices, such as POS and mPOS, including smart Android-based terminals. The protocol handles all industry standard transaction types, while ensuring reconciliation among the different parties involved in the transaction processing. 

The WAY4 system is intuitively built to analyze the transaction information in real time, including level-3 data. It supports a variety of value-added services such as tokenization, dynamic currency conversion, loyalty and coupons based on customer behavior analysis. 

nexo standards is an international association dedicated to enabling fast, interoperable and borderless payments acceptance by standardizing the exchange of payment acceptance data between merchants, acquirers, PSPs and other payment market stakeholders. nexo’s messaging protocols and specifications adhere to ISO20022 standards. Being a member of nexo standards, OpenWay is able to support new protocols quicker and help its customers on WAY4 to deliver a better payment experience.

Considering to transform your business through card issuing, merchant acquiring, e-commerce, digital banking, wallet, open banking solutions? See you at Smart Card 2018 in Opatija!

OW_Croatia_Banner_01.png

OpenWay would like to invite you to the Smart Card 2018 event, one of the largest banking innovation and technology conferences in the Balkans, taking place in Opatija, Croatia on September 24-26.

Why would you attend?

  • Get new business model insights by visiting the OpenWay presentation on the topic “Omnichannel payments for new revenue streams: wallet, e-commerce, open banking”

  • Learn about 4 case studies of the digital payment transformation from European and global leaders at the OpenWay workshop on September 24 at 4:30pm

  • Watch demo of the top-ranked WAY4 Wallet, #1-ranked WAY4 CMS (Card Issuing, Merchant Acquiring and Payment Gateway), innovative WAY4 PSD2 Hub and other software solutions at the OpenWay stand

We will be pleased to sit with you and learn more on your needs to enable us to address them in the most efficient way.

OpenWay at Seamless Ethiopia Meet-Up

On July 25th OpenWay co-hosted Seamless Africa Ethiopia meet-up event, which gathered experts from the leading FIs in the region for the discussion about current technology and regulatory challenges in banking. 
Doug Ballantyne, Regional Manager, Sub-Saharan Africa, OpenWay, gave a speech on how to choose the right partner to address those and change the game.

Doug Ballantyne, Regional Manager, Sub-Saharan Africa, OpenWay welcomes the guests at Seamless East Africa Ethiopia meet-up.

OpenWay at Seamless East Africa Ethiopia meet-up conference.

OpenWay Meets Payment Specialists From East Africa at Seamless Payments in Nairobi

Digital wallet for fun or convenience? – make your choice at Seamless East Africa in Nairobi with OpenWay

B1NK_for_article.png

The WAY4 innovative Wallet platform can support various business models and UX scenarios – come and see it yourself in our exclusive demo and discuss your particular business case with our expert team. OpenWay showcases its WAY4 digital payment processing at Seamless East Africa, 3-5 September 2018 in Radisson Blu Nairobi - book you demo or meeting now!

WAY4 digital payment ecosystem goes far beyond the traditional card and merchant management system – discover our solutions with us if you are interested in:

  • Profitable digital banking and wallets for financial inclusion of the unbanked - go branchless!
  • Cost-efficient card issuing (credit, debit, prepaid) and innovative ATM services 
  • Omni-channel merchant acquiring (POS, mPOS, mobile and e-commerce, kiosks) 
  • Highly available national and local switches & payment gateways 
  • 360-degree customer service through all channels, including loyalty, chatbots and personalized offers

OpenWay serves over 130 banks, processors, national switches and telcos worldwide – let’s share knowledge and expertise! Our team looks forward to meeting you at Seamless East Africa - schedule the best time now!

Two QAZKOM Innovational Products Have Been Awarded by the Big Four International Experts at a Time

Source: Qazkom press-release

Kazkommertsbank (Qazkom), a member of Halyk Group has become a winner in two nominations of the Asian Banking & Finance international magazine at a time. A special jury composed of representatives of the following international consulting companies: Deloitte, Ernst and Young, KPMG and PwC — awarded two innovational products of Kazkommertsbank: QR-code payments — in the «Best Mobile Banking Initiative — 2018» nomination (Mobile Banking Initiative of the Year) and Western Union online transfers via Homebank in the «Best Innovational Initiative — 2018» nomination (Digital Banking Initiative of the Year).

"While the entire world was watching FIFA, we were determining the champions in banking —over 200 best banks and insurance companies out of almost 40 countries are among them. I would like to thank the jury members for selecting the winners," — Tim Charlton, Editor of Asian Banking and Finance and Insurance Asia magazines, said at the awarding ceremony.

mVisa_merchant_payments.png

The jury of the contest was impressed with successes of Kazkommertsbank, which is aimed at implementation of the new technologies into the banking sector of Kazakhstan, where people still prefer paying cash. The experts noted that the Bank takes into account the market trends, successful world practice and consumer preferences, which makes him a real leader of innovations.

"We devote, let’s say, the last awards in the Bank’s history to those customers, who make us be up to the time and even one step ahead of the time. 20 years ago Kazkommertsbank launched the first Internet-banking, 15 years ago — it was the first bank in CIS that offered chip cards and cash-in ATMs to its customers, 5 years ago — it proposed mobile proximity payments to Kazakhstani people, and a half a year ago it performed first QR-code payments. Today, when we are at a final stage of integrating with Halyk Bank, we are transferring the spirit of innovation and leadership into the integrated Bank together with our technologies", — Ulf Wokurka, CEO of Kazkommertsbank commented.

Kazkommertsbank has become one of those few banks in the world that mastered QR-code payments based on the mobile solution of Visa International Payment System in 2017. Only a few countries in the world, including India, Singapore are widely using QR-code payments.

Bank started implementing the new service from the most complicated segment, where one could not imagine non-cash payments before – food and clothes selling markets, street sellers. The growth dynamics of QR-code payments equalled 600% since they were launched in December 2017. Today, Bank keeps connecting dozens of merchants a week to the new mobile service. 

The second service of the Bank, which was awarded the Digital Banking Initiative of the Year, — Western Union money transfers via Homebank. The customers have quickly assessed the simplicity of using, speed and the lower cost of this service. As a result, WU online transfers have exceeded the number of money transfers performed via operating offices.


Implementation of QR-code payments solution has been a joint project of Kazkommertsbank (Qazkom) and OpenWay, a top-ranked payment processing software vendor.

What to Consider When Choosing a Technology Partner to Power your Payments

Published at: Business Day

Customers are demanding sophisticated financial products and services anytime, anywhere, using any channel.

From Africa to Europe, the Middle East and the US, the change in customer expectations is a significant global trend. Consumers are not only comparing banks with other banks; their expectations are also rapidly being shaped by technology companies such as Uber, Airbnb, Apple and other facilitators that ease their lives and give them the desired experience. And consumers and businesses are now demanding sophisticated financial products and services anytime, anywhere, using any channel.  

To deliver on these new expectations requires the right type of digital capabilities behind the scenes. Technology platforms must be flexible, scalable and work end to end. Naturally, they must also be secure and work across all channels – the ones we know about today and the ones we don’t yet.

Yet banks and processors also have to balance seemingly conflicting demands. They want to cut costs and time to market but are constrained by their legacy IT infrastructure. This is complex and costly to maintain, and it restricts their ability to innovate. Then there is the need to maintain regulatory compliance, interoperability and 24/7 operations.

ACB Wallet.png

Fintech start-ups are also piling on the pressure. These newer, more nimble players are not encumbered by legacy. They can adapt more easily to the demands of customers and regulators. The fintechs may not have scale today, but their technology allows them to compete strongly in the future.

The right type of technology helps businesses think as well as act differently. In this way, technology drives both a technical and a cultural mindset.

Considerations when choosing a partner

If the future of payments is to be open and collaborative, then banks and processors need to have the technology in place to capitalise on opportunities. This often means better rather than more technology.

Payment systems should allow different business models to run on the same platform. OpenWay’s WAY4 platform enables concurrent customer propositions and business models, both new and traditional. It offers a variety of credit, debit, prepaid and multi-currency services for mature customers, and supports financial inclusion use cases for those who are unbanked or new to financial products.

Loyalty, deposit, payment and non-payment services and online interoperability are musts for successful wallets. These five elements unite clients as varied as Equity Bank in Kenya, Asia Commercial Bank and SmartNet in Vietnam, B1NK and AzeriCard in Central Asia, Advanced Info Services in Thailand and many others that either create their own wallet products or use an existing wallet ecosystem on WAY4. Openway clients target both unbanked consumers and demanding tech-savvy users.

payment_processing_partner

Payment partner considerations

Payment method-agnostic
Open and API-rich
Scalable and flexible
Cross-border
Truly digital (across B2B, B2C, B2G, C2G and so forth)
Supports various business models
Grows your ecosystem
Backed by an experienced team

Payments live in an ecosystem. Banks and processors are increasingly having to consider how and where they operate within this wider ecosystem — and naturally with whom. Their technology should facilitate greater co-operation or competition, and sometimes both. Ideally, payments platforms should be payment-method-agnostic, open and supportive of a rich library of APIs for everything from risk management and scoring to tokenisation.

Scalability and flexibility are critical. The chosen technology platform should have the flexibility to scale up to meet business needs and the robustness to cope with sales spikes. One of Openway’s biggest clients handles up to 2,400 transactions per second with no latency. This bank has achieved 140-million active debit and credit card portfolios with a variability of products and more than 40 configurable parameters for each of them.

Invisible security is key. That the platform should conform to the latest versions of EMV, 3-D Secure and PA-DSS is a given. In addition, a good technology partner should offer a range of fraud screening and risk management services. OpenWay provides an anti-fraud engine with about 80 customisable parameters, including payment and non-payment transaction data, customer and device information and historical analysis, which bring seamless security at every customer touch point.

Wallet.png

Personalisation: one size fits no one in payments. Openway worked with Nordic processor Nets to implement standardised products with minimal configuration options on WAY4, enabling quicker speed to market for end clients and with Borgun (Iceland) to offer merchants personalised pricing and value-added services. Plus the product user experience is personalised in real time due to the event-driven configuration.

Omni-channel is the default for banking and payments today. Customers should not see or feel the awkward join as they bank or shop online or in person at a branch or store. Openway helped Halyk Bank, one of the most innovative financial institutions in Central Asia, power the front-end omnichannel experience across e-commerce and face-to-face acceptance.

Commerce becomes more and more borderless. Top European processors have built distributed installations worldwide on WAY4 for issuing, acquiring, gateway and wallet services. For example, Six Payment Services successfully migrated close to 40 banks to WAY4 within two years. When the client’s digital strategy or domestic/regional regulations require on-soil presence, the platform allows the combination of cross-border centralised installations with local ones in the distributed processing environment. Good examples are Nets serving its banks throughout the Nordics, and Credorax working with merchants across Europe, both on the WAY4 platform.

Knowledge, skills and experience count for a lot in the brave new world of payments. OpenWay has more than 20 years’ experience in managing complex projects in multiple countries worldwide. The company has built national payment switches for countries, helped facilitate social payments for governments and interoperable mobile payments for banks and operators, and managed fuel card payments for oil companies. Leveraging this, the National Bank of Greece recently replaced its legacy mainframe systems with the modern, future-proofed WAY4 platform, and received recognition for delivering the best large-scale IT project in 2018.

The WAY4 system is an open, digital-payments software platform, used by 135 banks, processors, telecom and oil companies across the globe. OpenWay has been independently ranked as a market leader in card and merchant management by Gartner since 2009 and Ovum in 2015-16, and as a market leader in digital wallets (Ovum 2016).

THE ANALYTIC REPORTS

For more information, click to download the analytic reports.

OpenWay Club 2018: Interview with Chiedu Okeke - CEO, OROBO

Get the insights on the latest technology and business trends from leading experts in the payment space!

Chiedu Okeke, CEO at OROBO, a money transfer fintech in Nigeria, speaks on what's up in payments in Africa and why OROBO has chosen OpenWay as a partner to empower their money transfer business.

Together with OpenWay, OROBO is aiming to support the financial inclusion in West Africa by building a platform for cross-border remittances and bill payments into Nigeria, Ghana, Kenya, Sierra-Leone.

This is the first piece from series of interviews with our clients that we shot during OpenWay Club 2018. Stay with us to watch the next one!

Alfa-Bank’s New Processing Centre Runs on OpenWay’s WAY4 Platform

Alfa-Bank Belarus, part of the Alfa-Bank Group valued at $44 billion in total assets, has completed its migration to the WAY4 platform by OpenWay, a top-ranked digital payment software provider. Well-known in Eastern Europe for its digital banking approach, Alfa-Bank migrated its payment cards and online services to an on-premise WAY4 solution to cut operational expenses and time-to-market, and promote innovation.

"OpenWay’s flexible approach to the project implementation strengthened the basis of our future partnership in developing new digital banking products,” - says Rafal Juszczak, CEO at Alfa-Bank Belarus.

One of the specific project requirements was to transmit progress of the migration in real time. Over 50,000 bank clients could monitor every step of the migration process, which significantly reduced in-bound calls to the customer support center and online chat messages.

Processing in-house enables Alfa-Bank to introduce new banking products and services while controlling costs.

“The success of the project was achieved through collaboration and a joint Alfa-Bank and OpenWay team sharing the same vision. Another key to success was the project management excellence that aligned with the project’s goals” - notes Dmitry Dovgal, Deputy Director of Business Development at OpenWay.

About Alfa-Bank Belarus

Alfa-Bank Belarus is a leading private bank in the Republic of Belarus. According to IFRS reporting as of the end of 2017, Alfa-Bank Belarus is a top-10 bank in the Republic of Belarus based on the amount of total assets, total capital, loan portfolio and attracted assets. The bank’s strategy - "In the Rhythm of Life" is focused on the digitalization of processes. Markswebb rated the bank’s application among the top 10 bank applications in the CIS and Georgia.