Note from Dr. Jack Baldwin, CEO

Hello and welcome! As you know, payments data is a powerful decision-making tool and can answer questions about company profitability and consumer trends in near-real-time. But, for many organizations, payments data is buried in multiple disparate systems. Companies lack a simplistic and efficient way to access their own data or monetize that data by making it available to their clients.

I have good news! With a modern back office payments platform like BHMI’s Concourse Financial Software Suite®, companies can have immediate and unlimited access to consolidated payments data. When combined with a powerful data analytics tool, companies can slice and dice their payments data any way they see fit.

The key is having access to a centralized transaction repository capable of ingesting and storing any electronic payment type (debit, credit, prepaid, P2P, real-time, etc.) from any API or file-based data source (authorization systems, international or regional networks, real-time payment rails, etc.).

In addition to providing companies with easy, instant, enterprise-wide access to transaction data, Concourse can perform back office functions such as settlement, reconciliation, fees assessment, and disputes management in near real-time. Concourse modernizes payments processing by replacing all or portions of a legacy system with a rules-based, multi-channel, multi-tenant, multi-currency, highly scalable solution that supports both ISO 8583 and ISO 20022 message formats.

I hope you will reach out to learn why BHIM’s software is deployed by large payment processing organizations around the globe and how it can help unlock the power of your payments data.

Press Release:  BHMI Announces “Configurable Summary” feature for Industry Leading Back Office Payments Solution – Concourse Financial Software Suite®

BHMI announced a powerful Configurable Summary feature to its Concourse Financial Software Suite.  Thisnew  Configurable Summary feature leverages the real-time summarization capabilities in Concourse and provides companies complete flexibility in the consolidation of any data within the repository to meet specific information gathering and reporting needs.

“BHMI’s mission is to offer the most flexible and powerful payments back office solutions on the market,” said Susie Swenson, Concourse Product Manager. “BHMI added the Configurable Summary feature to the Concourse Financial Software Suite so companies can leverage the power of the payments data within Concourse.”

Podcast:  New Approaches to the Persistent Problem of Chargebacks

Chargebacks have become one of the biggest operational challenges for both card issuers and merchant acquirers.

Please join Kate Knudsen and Cheryl Fitzgarrald of BHMI, along with Don Apgar of Javelin Strategy & Research, who recently sat down with Rimma Kats, Editor-in-Chief of PaymentsJournal, to discuss the main challenges payment processing companies are facing and solutions to help successfully reduce the complexity of the disputes management process.  

Article:  5 Reasons to Get a Handle on Chargebacks

Chargebacks are a significant and growing challenge in the payments industry. In fact, a recent study showed that merchants paid more than $100 billion in chargebacks in 2023. The rapid growth in e-commerce, rise in fraud, and consumers’ increasing willingness to file chargebacks are making dispute management an increasingly challenging and complex job.

However, many merchants and processors still operate with legacy back office systems, making it difficult to keep pace. Fortunately, merchants and payment processors can now access new solutions to improve the back office processing of disputes.

Check out this recent article in PaymentsNEXT by Donna Blum of BHMI. In this article, Donna describes how consolidation and automation enables companies to gain more insight and control, streamline processes, and reduce claims losses.

Article:  Legacy-Fintech Collaboration for Back Office Transformation

Legacy back office payment systems have served banks and payment processors well for decades, but it’s clear they can no longer keep pace with new technologies. As the payments industry moves from card-based payments to digital payments, banks and processors can no longer rely solely on long-held systems and in-house capabilities.

This recent article in The Green Sheet by Casey Scheer discusses the importance of collaborating with the right fintech companies. BHMI wants to thank Marcia Klingensmith, CEO of FinTech Consulting; Anthony Serio, founder and CEO of Serio Payments Consulting; and Joyce Mehlman, Owner of iLEX Consulting Group for their valuable insights and contributions to this article.

Article:  How to Maximize Agility and Automation with Rules-Based Payment Processing

This article in PaymentsNEXT from BHMI CTO, Michael Meeks, discusses how companies can maximize agility and automation with rules-based payment processing software.

In this article, Michael explains how legacy payment processing systems have created stable infrastructures for years, but they don’t work well in today’s fast-paced environment. These systems burden employees with manual tasks, create organization-wide inefficiencies, and often require expensive and time-consuming code revisions.

On the other hand, rules-based systems use configurable business rules to make decisions. Users can configure rules that specify what action should be taken under what circumstances. These rules allow the software to process complex information without extensive programming algorithms. Also, due to their architecture and extensible data, they are well-suited to complement a wide range of artificial intelligence use cases.

The interest in configurable rules-based systems within the payments industry is increasing because of the need for agile payment operations. Michael offers some insights on what companies should look for when considering rules-based software.

Videos:  Pioneers in Payments

Have you watched BHMI's Pioneers in Payments video podcast series where payments experts share valuable industry insights?  Below are links to the interviews released during the last three months.  Watch previous interviews on BHMI's YouTube Channel.   

• American Bankers Association, Steve Kenneally  
• Galactic Trade Consultants, Cole Augustine 
• ICBA, Scott Anchin
• Impact Payments Consulting, Marc Badalucco
• Intrepid Ventures, Eric Grover
• Persistent Systems, Sumit Arora
• Serio Payments Consulting, Anthony Serio

If you would like to be a guest on an upcoming episode of Pioneers in Payments, please contact Donna Blum at donna.blum@bhmi.com. 

About BHMI

BHMI is a leading provider of software solutions to modernize back office payments operations. When we say back office, we are referring to the processing that occurs after a payment has been authorized. The authorization of a transaction is only a very small part of the payment lifecycle. There is so much that occurs after authorization. This includes functions such as settlement, reconciliation, and funds movement. It also includes the assessment of transaction-based fees and the handling of any transactions that are disputed. The back office is also where companies view transaction data and financial positions, perform transaction research, create reports and so much more.

BHMI is best known as the creator of the Concourse Financial Software Suite® – an innovative collection of modular back office software solutions that reduce the cost and complexity of back office payments processing. Concourse is ideal for organizations with complex, high-volume, multi-rail payments operations. Concourse is a modern, resilient, omnichannel payment solution that can be integrated within most payment ecosystems to perform back office processing on any type of digital payment, anywhere in the world, 24 x 7 x 365.

Contact BHMI to learn how your organization can benefit from Concourse.

11602 West Center Road
Omaha, NE  68144
+1 (402) 333-3300 
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