“The Kani Payments platform is very easy to use, but it’s the people that sit behind it that give true value for us because of the very specific nature of what we’ve been asking them to produce. The responsiveness and the guidance has been invaluable.”
– Aaron Carpenter, CEO, TransactPay
TransactPay’s case study highlights how Kani helped a leading issuer and BIN sponsor transform complex financial reporting into streamlined, automated workflows.
How TransactPay automated reconciliation and boosted compliance with Kani
With growing regulatory demands and the need for greater efficiency, TransactPay turned to Kani to replace manual processes with a smarter, faster solution. The partnership delivered real-time data insights, simplified compliance reporting and gave finance and ops teams more control of and confidence in their data.
About TransactPay
TransactPay enables fintechs and financial institutions to launch their own card programme, empowering numerous clients to service both the UK and European markets as it is fully passported across all member states within the European Union.
One of TransactPay’s unique selling points is that it is processor-agnostic, empowering its programme manager clients to utilise whatever processing solution they want to create a genuine, bespoke service offering.
Multiple data points and processor relationships create new challenges
TransactPay’s competitive advantage brings unique challenges. Multiple processor relationships mean data is received from multiple sources in differing formats. This means more complexities in reconciliation and reporting processes.
Receiving data from multiple processors and delivering accurate reconciliations on a daily basis is crucial.
Previously, these processes were costly, time-consuming and placed a heavy demand on in-house teams.
Successful collaboration with a fintech built by payment experts
We undertook a pilot project, involving a platform integration with one of TransactPay’s processors.
We fully understood the brief given and excelled at achieving seamless technology integration. Simplifying a complicated data normalisation process.
With the confidence that we instilled through our platform, TransactPay switched over many of its key processes, allowing us to rapidly provide compliant reports, track the movement of funds, and ensure speedy, error-free reconciliations.
A platform that can be configured to unique needs
We have in effect become the data repository for TransactPay, allowing the ability to normalise data fuelling internal business intelligence capabilities to a great extent.
By working with us, TransactPay managed to differentiate its card programme data based on cardholder residency, avoiding additional expenses due to post-Brexit changes.
Provision of harmonised regulatory reporting, transaction monitoring and access to a unified, normalised data set are three of the key deliverables that we were tasked with and achieved, due to our customisable platform that can be reconfigured to exact requirements.
Exceptional customer support, training and guidance
Once our platform was integrated with TransactPay and its processing partners we were on hand to help and guide the team. In terms of time savings, the Kani platform has helped free up more time to focus on other activities.
One example is in the area of regulatory reporting, which is now accelerated and more cost-efficient. The ability for the compliance team to have a single customer view is also hugely important and will enable TransactPay to scale more effectively.
Faster growth opportunities
In terms of TransactPay’s future growth plans, the business intelligence capabilities and service enhancements generated, due to our work together, mean service targets are hit much faster and new growth opportunities are unlocked with ease.
“Not every challenge needs to be overcome in-house. If you can find a tried and tested partner to solve a problem that allows you to dedicate your time and resources to improving your own service offering, then take that option.”
– Aaron Carpenter, CEO, Transact Payments
