Company Name:
FINEXUS SDN BHD (515271-A)
Sector
Digital Finance
Tech Enabler
Data Centre & Cloud, Cybersecurity
Support Sustainability or ESG
Yes
Overview:
A-Bank embarked on an ambitious project to rapidly expand their market presence by leveraging a comprehensive suite of payment solutions. The primary objective was to achieve a swift time-to-market, with a project timeline from commencement to rollout within 3 months. The broad scope of the project including card issuance (credit, debit, and prepaid) with two major card schemes, ATM switch, POS acquiring, FDS, and Safe2Pay 3DS, effectively deploying an almost complete card payment ecosystem.
Pain Points:
- Speed-to-Market: Achieving a rapid deployment within a stringent 3-month timeframe.
- Broad Project Scope: Integrating multiple payment solutions
- Regulatory Compliance: Local and international regulations such as Visa and MPU.
Solution/Services:
Card Management System (Cardworks)
We provide end-to-end payment solution that addresses the rapid deployment and broad integration challenges. It is designed to be highly scalable and customizable, ensuring compliance with latest regulatory standards.
Key Features and Functionalities
- All Cards products: credit, debit, prepaid, physical card issuance, virtual or digital card
- Card Schemes supported: Visa, Mastercard, UnionPay, JCB and domestic networks in the AP Region including Malaysia PayNet MyDebit/SAN/RPP.
- ATM Switch
- POS Acquiring
- Fraud Detection System (FDS)
- Safe2Pay 3D Secure Authentication
Implementation:
- The implementation followed a phased approach, starting with:
(i) User Requirement Specification (URS)
(ii) Development and Customization
(iii) System Integration Testing (SIT)
(iv) User Acceptance Testing (UAT)
(v) Pilot testing
(vi) Go-live
- Key Technology:
(i) SaaS-based implementation
(ii) Hosted on FINEXUS Cloud in Malaysia, with top class facility, product & security attestations
a) DC Facility & Security attestations
- Twin Tier-III DC
- PCI-DSS Level 1
- ISO/IEC 27001
- BNM RMIT compliance
- DR/BCP
- Bank-grade SLA above 99.95%
b) CMS Product attestation
- Certified Processor by International Schemes: Visa, Mastercard, UnionPay, JCB
- PCI-PIN, PCI-3DS compliant
- Reliable systems implemented to most Banking, FIs & Fintech clients, and supported by experienced & intuitive team from Finexus
- Customization to align with customer's business requirements and local regulatory standards.
Benefit:
- Reduced Time-to-Market by achieving project go-live in short timeframe, significantly faster than industry standards.
- Enhanced operational efficiency, streamlined processes and reduced manual intervention.
- Supported by a team with over 20 years of industry experience
- 24/7 support
- Cost Savings:
(i) Low connectivity fees through Endpoint sharing model.
(ii) Reduced costs associated with card payment compliance, such as PCI DSS (Payment Card Industry Data Security Standard).