MVI Technologies: Innovative, Future-proof Financial and Payment Switching
Say Juan Foo, CEO
The financial services landscape is not immune to operational complexities and setbacks. Disappointment-associated legacy payment methods burden today’s dynamic world of commercial transactions. It corroborates the evolution of efficient and versatile solutions that deliver real business value. Moving along this demand curve, MVI Technologies, one of the promising payment switch solution providers, makes value-bound contributions that bridge the gap in this landscape. The company's expertise and customer-dedicated solution has placed it among the top players in the market and has earned it Singapore’s "Enterprise 50" award in 2018.
With more than a couple of decades’ experience, MVI tables its in-house designed M^Dynamics, a high-quality purpose-built offering that addresses setbacks associated with mission-critical payment systems, especially in financial and payment switching. It comprises a set of value-added tools and high-performance engines designed for next-generation financial switching, retail banking, and mission-critical online transaction processing (OLTP) solutions. “Our offering is versatile, flexible, high performing and scalable, unlike our competitors who face huge challenges delivering these features concurrently,” says Say Juan Foo, CEO of MVI Technologies. “Customer satisfaction being our core focus, we work towards customizing our solution in-tune with the real-world requirements,” adds Foo.
The company’s M^Dynamics provides multi-channel support for traditional touchpoints such as ATM and EFTPOS as well as modern payment modes based on web and mobile devices.
It is an easily integrable platform which drastically reduces the operation time as well as associated cost. The solution aligns well with customers’ choice for specification of hardware and software. M^Dynamics can be run on a proven fault tolerant system to make it even more stable and scalable. For this, MVI uses user-friendly tools to produce reusable tested codes which result in high-quality delivery and compatibility.
Additionally, M^Dynamics is designed to support large volume mission critical and low-value retail payments from various marketplaces to accommodate the needs of individual and corporate beneficiaries. The company crafts systems that are capable of handling millions of payment instructions seamlessly and providing E-wallet facilities to users. Their offerings also help in screening legitimate payments according to clients’ needs.
On top of that, the use of low-level coupling helps in modifying the solution without impacting other modules of the software. M^Dynamics is also incorporated with several tools such as TransBuilder, a GUI-aided transaction construction and orchestration tool that ensures easier maintenance and improved readability. The Message Transformation Tool supports most common types of formats as ISO8583 and its many variants, token-based MTM, XML, fixed length, delimiter, JSON. The Screen Generator Tool interprets configurations and auto-generate UI modules with add, delete, update, query with “fine-grain” access rights control. “Our highly competent and committed technical team also plays a critical role in delivering solutions of the highest quality and reliability,” quotes Foo.
The success story of one of their clients— who leveraged its solution to enhance their existing legacy payment gateway system—best exemplifies MVI’s value proposition. They wanted to offer a simplified and integrated API interface to the customers. The major challenge was the retention of existing clients and incorporate new ones with added innovation. M^Dynamics helped them to achieve their goals by offering them a customized payment system as well as an interface that supports multiple channels of payments.
Envisioning the future, MVI is working towards incorporating advanced technologies such as Containerized Microservices and Tokenization, giving new dimensions to its solutions. It conducts researches on the possibilities to empower its solution with Blockchain ensuring advanced security in its operations. The company also looks forward to adding AI into the authentication part of the solution. MVI is also planning to expand geographically through strategic partnerships.