October 6, 2020
TABLE OF CONTENTS
A national leader in financial services wanted to implement a payment credential tokenization system to further enhance the safety and soundness of digital payments. Building a tokenization capability involved both defining the product and selecting a vendor to complete this component. The client also wanted to construct user manuals for their customers to use and facilitate conversations with digital wallet providers to discuss technical specifications and integrations.
The client’s primary challenge was designing a payment credential tokenization system that met market standards without infringing on proprietary technology. This particular challenge led to other setbacks, such as finding ways to scale integrations and to ensure their technology worked in parallel with other competing services.
Levvel’s mission was to collaborate with the client in each phase of the product life cycle. Different sets of resources were implemented for each phase of the project and maintained a continuity of expertise throughout the project. This ensured Levvel’s knowledge, target teams, and skillset carried over and could benefit each step of development. The client was engaged with Levvel in three phases of approach, which included:
The successfully-launched payment credential tokenization product continues to be used today. Now, the client is well equipped with their own technical knowledge to stay successful and competitive.
You’re going to use technology to change the world. We’re going to help you create it. Whether you are reinventing your company, creating an industry-changing product, or making existing products even better with new technologies—we exist to make your endeavor a success story. Our team is made up of leaders, thinkers, designers, and builders whose collective experience spans many industries and companies of all sizes. We’re avid fans of technology but even bigger fans of solving business problems. An understanding of the difference between an idea and a solution is just one of the things that set us apart.
In our recent survey of businesses of all sizes, 49% of respondents said they were uninformed about RTP. This gap can be filled by financial institutions, business process automation software, and even businesses themselves.
In this brand new video series from Levvel, our industry experts discuss what the future of insurance looks like, how insurers are leveraging emerging technologies, and what steps established insurers can take now to prepare for the future.
Levvel Research's 2021 Real-Time Payments Report (RTP) provides a guide to the many use cases of RTP for businesses and outlines the ROI of adoption for financial management processes, product delivery, and customer satisfaction.
Procure-to-Pay (P2P) software is highly reliant on technological innovation, and providers that match customer needs with cutting-edge technology are the ones that succeed.