business automation

Fraud Prevention Platform

<Product under development>

We are developing a new-generation stand-alone fraud prevention platform. It’s designed for issuers and acquirers who use WAY4 or 3rd party CMS, core banking, or e-commerce gateway.

The solution will support rule-based transaction scoring with minimum impact on the processing system and provide a user-friendly interface. To make a decision, it can use data from internal and external databases. 

Workbenches Q1 2018 Update

<Enhancements to the existing product>

Access Granted Double-Check

The ‘access-granted’ double-check is a major enhancement in all workbenches that are based on the WAY4 case management platform – Claim Management, Dispute Management, Risk Management and others. Processors serving more than one bank are more likely to keep it on, as a necessary security measure.

Whenever someone initiates a document activity via configuration or operation screen, now WAY4 performs a second-level verification of the user access privileges. If the action is forbidden for this particular user, WAY4 displays a message about insufficient rights. More specifically, in earlier releases it was already possible to define fine-grained user access control to cases, through the Case Management-level grants. However, the new Access Granted Double-Check feature ensures an additional control of data access against the system-level officer grants. Subsequently, the combination of both access restriction levels applies – that is, case management-level restrictions as well as system-level restrictions.

Access can be granted or denied for individuals or groups of users. It can cover product categories, financial institutions and domains.

Some examples of how it works:

  • WAY4 always checks if the particular user has the right to manage cases of the selected financial institution.

  • Risk department officers can put a card into the exception list only if they are permitted to manage this particular issuer.

Customer Service Workbench

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  • Due to the ‘access-granted’ double-check, the workbench users can only access documents of their assigned financial financial institutions, regardless of the actual contract hierarchy.

  • Now WAY4 applies the ‘Maker-checker’ approach when a bank officer initiates ‘Credit Account’, ‘Debit Account, ‘Charge Fee’ and ‘Charge Manual Fee’ actions towards the cardholder. By default, WAY4 won’t post the created documents until the supervisor approves the actions.

  • The view of the contract hierarchy of cards with several linked accounts has changed. Now the main card resides on the top level, and all linked account contracts are shown under the card. It simplifies the clerk’s work with information for each sub-account. This enhancement is especially useful when showing the hierarchy for a multi-currency card and its related accounts in different currencies.

  • When creating a new client contract, corporate card issuers can select a corresponding liability contract. We added this feature to simplify corporate card reporting.

  • When searching the cardholder transaction history, bank officers can use a new filter – Balance Change Mode. It helps to exclude the transactions which did not change the balance, such as PIN Change or Balance Inquiry.

Datamart Q1 2018 Update

<Enhancements to the existing product>

General enhancements

  • We have introduced a new approach for flexible data loading. Now all data tables are grouped in semantical data sets or ‘modules’. Examples of such modules are “Instalments”, “Dispute cycles”, “All issuing operations”, and “Authorizations”. Our new interface lets you easily enable or disable standard module loads. You can also register custom modules and include them in a standard load procedure. Soon users will be able to set the desired frequency and priority of data load.

  • Now WAY4 Housekeeping can merge and compress old partitions and store old unchanged data in a more compact way. It serves to free Datamart server space.

What’s new for issuers?

  • Now issuers can load dispute data – reason code, result code, activity date and other chargeback-related information – from WAY4 Case Management into WAY4 Datamart.

What’s new for acquirers?

  • Now the special Interchange Fee Reconciliation mart shows information from IPS Reconciliation report provided by Visa and Mastercard. If you use the WAY4 Fee Prediction solution, you can also load and compare the predicted and actual fee values.

  • A new table describes the hierarchy of acquiring contracts. Therefore, contracts have got a new classifier to mark their position within hierarchy. It gives you more flexibility in data analysis. For example, a merchant statement can show which parental contracts this one resides under – going as many levels up as you need. Or you can generate settlement reports that cover only merchants of the selected ISO or Payment Facilitator.

Personal Data Management

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<New set of product options, separately licensed>

To comply with the most important change in data privacy regulation in Europe – General Data Protection Regulation (GDPR) – you can now use Personal Data Management, a dedicated module in WAY4. The new functionality enables data controllers and processors to manage customers’ personal data in a GDPR-compliant manner. It allows you to erase personal data for customers with finished relations and support the “right to be forgotten” which means that after automatic and manual checks the personal data will be permanently hashed in WAY4 (keeping all referential integrity and GL balance intact). 

WAY4 can store extended information about consents, including statuses, processing purposes and so on. The system is able to prepare the notifications for a data subject about the GDPR-related request results. The smart search algorithm identifies the personal data in the processor's database.

To fulfil the customer's right to receive personal data concerning them ("data portability"), you can export these data from WAY4 in the required format. 

Enhanced Tariff Configuration Q1 2018

<Enhancements to the existing product>

While calculating a differentiated fee in real-time, WAY4 can now take into account the contract turnover or number of certain types of transactions for the period. We added this option for both issuing and acquiring products. This comes into its own when several possible tariffs could apply to a single transaction, which has just hit the volume threshold. The most typical use case is a volume-based cash withdrawal fee.

Example of a calculation algorithm:

On March 28th a customer withdraws 500 USD from the ATM. During the current reporting period (March 1-31) this customer has already withdrawn 1600 USD. How will WAY4 calculate the fee for the new transaction?

If the issuer has configured the following tariffs on cash withdrawal:

  • Up to 2000 USD during the period = 1%

  • More than 2000 USD during the period = 3%

  • Minimal fee = 2 USD

here is the dynamic fee calculation:

=> Final fee applied in real-time = max(400*1%+100*3%, 2)= 7 USD

Merchant Portal & Merchant Service Workbench Q1 2018 Update

<Enhancements to the existing product>

WAY4 Merchant Portal & WAY4 Merchant Service Workbench now include several enhancements:

  • When merchants request the transaction history, WAY4 can shorten the timeframe of the search results which helps increase system stability. The acquirer simply pre-defines the maximum number of days to display. This limit will overrule users’ requested intervals. If the transaction list was truncated, WAY4 shows a pop-up message. The merchant can then see the maximum number of days possible and corrects search requests accordingly.

  • If merchants edit their previous message(s) to the acquirer, acquirer users can see the message change log.

  • Now the “Maker-Checker” approach applies by default to your staff managing merchant accounts. If an acquirer user initiates “Credit Account", "Debit Account" and “Change Fee”, WAY4 won’t post the created documents until the supervisor approves the actions.

  • Also, the system checks user privileges before editing transactions and initiating reimbursements for the chosen merchant. If the action is forbidden for this workbench user, WAY4 displays a message about insufficient rights. This feature is especially convenient for a processor that has larger teams – with different users responsible for their own respective customers.