Note from Dr. Jack Baldwin, CEO

Hello and welcome! As we enter the fourth quarter, we have included some helpful information about revolutionizing decision-making with payments data, supporting both batch and real-time payments in a unified solution, and overcoming legacy system debt in the payments back office. In addition, you can listen to a recent podcast BHMI did with NCR Atleos about our strategic partnership and the exciting changes occurring in the ATM marketplace.

We also hope you will tune into BHMI’s Pioneers in Payments video podcast. We have provided a link to watch previous episodes and register to be a guest on an upcoming episode.

Please contact us if you would like to learn more about the exciting things BHMI is doing to help companies modernize payments processing.

Article:  Revolutionizing Decision-Making with Payments Data

In today’s rapidly evolving payments landscape, data is one of the most valuable resources for any company that processes payments, including card issuers and merchant acquirers. Although companies processing payments have access to valuable data, the current challenge is implementing an enterprise data management strategy that provides access to all payments data, regardless of transaction type or source.

Check out this recent article in The Green Sheet by BHMI’s Director of Software Engineering, Jon Protaskey, that includes valuable insights on leveraging the full potential of payments data to revolutionize decision-making.

Podcast:  As ATMs Do More, Financial Institutions Require Sophisticated Solutions

The ATM industry has undergone a dynamic shift that has taken automated teller machines far beyond cash dispensation. As the number of bank branches has declined, both banks and consumers expect ATMs to provide a wide array of services that were once only offered at a teller’s counter.

We invite you to check out this podcast by PaymentsJournal where Robert Johnston, Product Marketing Director at NCR Atleos, Casey Scheer, Director of Marketing at BHMI, and Elisa Tavilla, Director of Debit at Javelin Strategy & Research, discuss the changing ATM landscape and how the partnership between NCR Atleos and BHMI provides an ideal end-to-end solution to meet the changing requirements for processing ATM transactions.

Article:  Overcoming Legacy Systems Debt in the Payments Back-Office

For decades, many banks, merchant acquirers, and payment processors have tried to keep pace with the rapid changes in the payments industry by adding incremental functionality and patches to their legacy back-office systems. This has created technical debt in the form of inefficiencies and rising maintenance needs.

This recent article in The Green Sheet by Cheryl Fitzgarrald of BHMI, includes some valuable insights for overcoming legacy systems debt in the payments back-office.

Article:  Juggling Batch Payments Processing in Real-Time

Batch processing methods have been used for card-based transactions for decades. However, as the adoption of real time payment methods continues to grow, financial services companies must support both batch and real-time payments processing.

In this recent article in BAI Banking Strategies BHMI’s Chief Technology Officer, Michael Meeks, discusses approaches to support both batch and real-time processing in the payments back-office.

FPC Reports:  U.S. Faster Payments Council Releases Dual Reports on ISO 20022 Implementation and Benefits

As a member of the U.S. Faster Payments Council (FPC),
BHMI would like to share the two complementary reports that were recently published by the Cross-Border Payments Work Group, sponsored by Mastercard.  

The two reports are "How to ISO 20022" and "Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant Payment Adoption". These reports serve as critical resources for financial institutions seeking to implement ISO 20022, a global standard that is reshaping the landscape of financial messaging.

Thank you to the FPC Cross-Border Payments Work Group for their hard work on these documents.

Supporting both ISO 20022 and ISO 8383 in a Unified Payments Back-Office System

In the ever-evolving payments processing landscape, there are two prominent message formats: ISO 8583 and ISO 20022. ISO 8583 is specifically for card-based transactions, and ISO 20022 covers real-time and cross-border payments.

While the industry is moving towards ISO 20022 as a universal payment messaging standard, ISO 8583 is currently the primary messaging standard for card payments and will continue to be used for some time. Therefore, it will be important to support both formats simultaneously.

This article in BAI Banking Strategies by BHMI’s CTO, Michael Meeks, discusses the strategic advantages of implementing a unified approach that supports both ISO 8583 and ISO 20022 message formats.

Videos:  Pioneers in Payments

Have you watched BHMI's Pioneers in Payments  video podcast series where payments experts share valuable industry insights? 

We invite you to watch previous episodes and register to be a guest on an upcoming episode.

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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