Merchant Certification Automation | Banking
Introduction
An American based Global payment technology solutions company specializes in providing end-to-end services related to merchant transaction processing, prepaid card offerings, fraud protection, and electronic check acceptance. However, the Merchant Certification process, a seven-stage testing procedure, poses challenges due to its time-consuming nature, error-prone characteristics, and potential for breaching SLAs.
Challenges
- Payment Solutions Provider: Offering comprehensive services in merchant transaction processing, prepaid card offerings, fraud protection, and electronic check acceptance.
- Merchant Certification Process: Consists of 7 stages of testing, characterized by time-consuming procedures, potential SLA breaches, and error-prone outcomes.
Solutions
- Value Stream Analysis performed to pinpoint automation prospects and optimize process handovers.
- Deployment of an Intelligent Automation solution in two distinct phases.
- Phase 1 focused on refining the Merchant Certification Case Creation, Review, Approval, and Disposition process.
- Phase 2 targeted the automation of repetitive tasks within Certification testing and validation sub-processes, including Test Data creation, Test Execution, and Result Capture.
Business impact
- Yearly Cost Savings
- $30K
- FTE Savings
- 80%
- Reduction in manual effort
- 18%
- Reduction in Cycle Time
- 20%
Conclusion
The Global payment technology solutions company faced significant challenges with its time-consuming and error-prone Merchant Certification process. By conducting a Value Stream mapping exercise and implementing an Intelligent Automation solution in two phases, the company successfully streamlined its operations and enhanced efficiency in the certification process. Throughout this journey, Ennuviz played a pivotal role in providing advanced process mining technologies that enabled the company to identify automation opportunities and optimize its processes effectively. With Ennuviz's support, the company was able to overcome obstacles, improve operational performance, and drive greater success in its payment technology services.