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Revolutionising transaction acquiring with Altron FinTech multi-acquiring bank

Johannesburg, 24 Nov 2023
Altron FinTech MD Johan Gellatly.
Altron FinTech MD Johan Gellatly.

Explore the latest buzz at Altron FinTech - our revolutionary Multi-Bank DebiCheck (DC) acquiring solution. Designed to eliminate transaction interruptions for our customers, this innovation is making waves in the industry. Join us as we sit down with Managing Director Johan Gellatly to gain his insights into this resilient, game-changing solution.

Can you give us an introduction to the Multi-Bank DC acquiring solution?

In the world of financial transaction technology, innovation is key for our customers to stay ahead of their competitors. At Altron FinTech, we embarked on a journey to address the challenges our customers encountered during DC transaction processing. Our initial foray into this domain began when we pioneered and introduced the AEDO and NAEDO transaction types for use by our customers, which laid the foundation for our ground-breaking Multi-Bank DC acquiring solution.

Our journey started from the humble beginnings of being the pioneers of AEDO and NAEDO, which evolved to the now sophisticated DebiCheck transaction type, which enabled us to develop our resilient DC transactional solution. We did not rush into this innovation; instead, we meticulously refined and honed our processes to a fine art. Today, we stand proud as pioneers again, capable of switching between acquiring banks in minutes, without any transactional down time.

Why did we embark on this transformative journey? The answer lies in our commitment to being customer obsessed. Initially, when DC was introduced, we processed DC transactions via one participating sponsor bank, a limitation that occasionally let down our valued customers. Recognising this single point of failure in the national DC banking system construct, we made it our mission to develop a solution that offers choice, flexibility, resilience, reliability and also introduced a seamless failover solution without any business disruption to our customers. Our achievements in this endeavour make us the first company in SA to offer such a revolutionary DC service, setting a new standard for an always-on DC transaction acquisition service in the fintech industry.

How does Altron FinTech prioritise customer experience when developing and implementing the DC Multi-Bank acquiring solution?

In our exploration of Altron FinTech’s DC Multi-Bank acquiring solution, we interrogated our customers' pain points, identified their single points of failure and vulnerabilities when servicing their customers. Having identified most of their points of failure, we committed to develop a resilient robust solution that effectively addresses these to fully comply with the highly-regulated SA banking system.

Could you share examples of specific customer-centric features or innovations within Altron FinTech's DC Multi-Bank acquiring solution that have improved the overall user experience?

We are diligently monitoring and measuring our customers' experience when we need to make use of the solution, and our primary measure of success lies in seamlessly addressing any DC transactional banking challenges that may arise when we require to invoke the functionality. First prize for us would be that none of our customers notice or experience any business disruption when we experience banking system down time due to issues at any of the participating banks in the SA banking system. When we receive no service calls to our call centre during such incidents, we celebrate, as that is the ultimate customer satisfaction measurement indicator.

In the rapidly-evolving fintech landscape, how does Altron FinTech adapt its DC multi-bank acquiring solution to meet changing customer expectations and preference?

At Altron FinTech, we place significant importance on providing our customers with choice, empowering them to make decisions to meet their preferences and business needs. We understand that our diverse customer base may offer products and services bundled and at varying fee structures to their customers. Therefore, it is our commitment to ensure we offer cost-friendly fees through offering DC acquiring bank choices.

What measures does Altron FinTech take to ensure the security and privacy of customer data while delivering a seamless DC multi-bank acquiring experience?

We take immense pride in our fully integrated, system-to-system approach, which eliminates human intervention. The only time human involvement comes into play is when we require to make the decision to switch, the rest is all automated. This ensures our security measures seamlessly extend across most of the DC participating acquiring banks, providing airtight protection for our customers' transactions.

Can you describe any recent customer success stories or case studies that highlight how Altron FinTech's DC multi-bank acquiring solution has positively impacted the customer journey for financial institutions or businesses?

In our DC journey, we have encountered instances where some DC participating banks process DC transactions below the acceptable threshold levels, which are unacceptable to our customers. Through successful trial runs of seamless DC acquiring bank switching, we have deployed this solution effectively. Our rapid switching process ensures transaction integrity, and commitment to our "always on" endeavour, we stay true to our fundamental of fintech simplicity that is at the core of our technical platform commitment.

As managing director of Altron FinTech, what drives your passion for great customer experience and innovating these solutions like multi-bank acquiring?

At Altron FinTech, we recognise that customer satisfaction is intrinsically linked to the happiness of our employees. Our journey begins with our resilient, committed and dedicated team. We strive to meet their aspirations and expectations that is paramount to us as leadership. By prioritising our employees' needs, we pave the way to have satisfied customers. If we have happy employees, we have happy customers because they are ultimately the people who serve our customers, so we must look after our people to meet their aspirations and career goals.

Personally, I am deeply committed to fostering a customer-centric obsessive culture. When we scrutinise our service levels, a resounding consensus emerges: our customers want to remove friction from their business processes and simplify their operations. Their ultimate goal is to automate and streamline their business processes, striving for efficiency and have business continuity to foster growth. Consequently, we are unwavering in our dedication to crafting solutions that prioritise our customers' needs and keep their businesses thriving and growing. This customer obsession is the driving force behind our innovative approach.

In conclusion, Altron FinTech's multi-bank acquiring DC solution represents a groundbreaking milestone in the realm of DC resilient transaction processing. The success stories of DC participating banks embracing Altron FinTech's multi-bank acquiring DC solution highlights the positive collaborative impact it has had on the SA financial industry. Rapid DC bank acquiring transaction switching, transaction integrity, and an "always on" experience are central to this achievement. 

This innovative approach, spearheaded by our Managing Director Johan Gellatly, has revolutionised DC resilient transaction acquiring, setting new standards in the industry. Altron FinTech's journey, from when it pioneered AEDO and NAEDO, to the sophisticated DebiCheck system, exemplifies our commitment to addressing customer pain points and providing a seamless, customer-centric experience. Change is the only constant.