News!: Opus Technologies Launches FinGeniusAI Solutions – An Open Innovation Platform for Building Future-Ready Solutions.. Know More
News!: Opus Technologies Launches FinGeniusAI Solutions – An Open Innovation Platform for Building Future-Ready Solutions.. Know More

Switch Modernization

Laying the Foundation of the "Switch of the Future”

Through established leadership in the payments switch market, Opus has built a successful track record with marquee financial institutions, acquirers/issuers, PSPs and FinTechs. With 27+ years of experience our team helps solve cloud adoption and automation issues enabling both vertical and horizontal scaling for financial firms.

Key Challenges Faced by Banks, FinTechs, and Credit Unions

AI in Payment Switching and Modernization

Change in the landscape of payment switches due to emerging technologies, such as blockchain, alternate payments, and much more

Statistics about real time payments

Challenges in enabling real-time transactions due to inefficient integration capabilities and poor backward compatibility with legacy infrastructure

Document Evaluation and Verification

Ineffective risk strategy to mitigate multiplying security threats and fraud incidents due to open banking and decentralized financial economy

Skilled Person

Lack of expertise to navigate the regulatory cobweb with proliferating cross-border and cross-mode payments

Competition Market

Inefficient use of massive data to gather valuable insights and drive business decisions to meet customer requirements ahead of the competition

Facilitating Multi-Mode Payment Integration with Switch Modernization

With 27+ years of expertise in the digital payments domain, Opus understands the complexities of legacy transaction methods and capabilities of emerging technologies to transform the financial ecosystem. Through advanced technology integration and data-driven decision making, Opus enables globally standardized risk mitigation, multi-mode payment facilitation, and compliance. Through switch merchant services, Opus fosters innovation and expedited value extraction for both the financial organization and customer.

Our Switch Modernization Services Include

Interconnected modules in Payment Systems

Enabling open banking approach and modern decentralized payments, including card, digital, crypto, and mobile wallet variants

Security Shield in Payment Modernization

Strengthening security using cutting-edge security measures, such as biometric authentication, tokenization, decentralized ledgerization (blockchain), to reduce the risk of fraud with AI capabilities and minimize incidence impact

Customer Satisfaction

Facilitating IoT based, contactless, and reliable instant payments across platforms to enhance customer satisfaction and convenience

Public Relationship Management

Developing smart solution strategies based on business assessment to identify adequate modernization requirements and right engagement model

Standard Compliance Check

Ensuring compliance through domestic and cross-border payments in the unified financial global ecosystem

Opus Delivers Transformative Benefits with Switch Modernization Solutions 

Innovative Ideas

Enables seamless integration of diverse financial systems with innovative application to deliver superior customer experience

Users in Connection

Leverages customer-behavior data to improve decision making and brings agility to payment systems that can be updated at the speed of market

Icon representing Detection

Embeds security and fraud detection mechanisms with the payments core model for enhanced protection against cyberattacks

Competition Standards

Provides an edge over the competition with latest payment modes for anytime-anywhere transactions in real time through enhanced switch packaging

Recommended Resources To Explore

Frequently asked questions

A switch, in a modern payments system, routes all the payments between customer interaction (ATM, POS) and the bank’s processing system in real-time. A network of switches forms the backbone of the modern digital banking and payments infrastructure.

Payment modernization enables merchants to offer best-in-class customer experience and improved propositions through secure digital environments. It streamlines costs, opening new streams of revenue.

A payment gateway takes care of the end-to-end completion of a transaction whereas a switch is a (software) component that integrates diverse payment methods, including debit cards, credit cards, and digital wallets, like a middleman between the gateway and financial institutions

A switch is a Payments Platform as a Service that allows merchants and business owners to outsource their entire payment infrastructure connecting to diverse stakeholders through a simple API integration.