Financial Data Platform Transforms Payments Company’s Treasury

Challenge: Decentralized Payments Data

Our client, a rapidly growing unicorn payments company, faced challenges managing payments across a complex and expanding ecosystem. With operations spanning multiple platforms and payment methods, the decentralized nature of their payments data hindered their ability to achieve accurate reconciliation and meet stringent audit requirements. The treasury team urgently needed a centralized solution to streamline data management, ensure compliance, and maintain trust with stakeholders.

Solution: Tracking & Matching Payment Lifecycle Events

We built a robust system that could match payment events and track their entire lifecycle accurately. This innovative system delivered:

• Lifecycle Engine: Empowering treasury teams to define and customize the lifecycle of payments, ensuring full visibility into each stage of payment execution.
• Matching Engine: Seamlessly correlating actual payment events with predefined expectations to validate accuracy.
• Rules Engine: Enabling dynamic anomaly detection through configurable rules, generating actionable insights for treasury users.
• Flexible Integration: Simplifying the onboarding of newly acquired payment platforms, reducing dependency on extensive coding, and fostering agility in business operations.

At the core of the solution was a centralized payments repository, capable of ingesting and processing payment data from over 30 different platforms. By leveraging diverse transport mechanisms such as event-based triggers, API calls, and file drops, the repository efficiently supported a variety of payment methods, including checks, ACH, and virtual credit cards. This robust architecture ensured scalability to support the company’s growth trajectory.

Impact: End-To-End Payments Reconciliation

The implementation of the centralized payments repository and reconciliation system brought significant improvements to the client's operations. By automating the loading of payment events from various platforms and matching them against expected lifecycle paths, the client achieved real-time visibility into their payment processes that could be easily shared with auditors. The dynamic generation of review items based on anomaly rules allowed treasury team members to quickly identify and address discrepancies, ensuring accurate reconciliation of trust accounts daily.