IAs the financial landscape evolves and merchants adopt new operating models, at Team Quality Corp we are actively adapting the processes of SmartOpen Anywhere, our card Back Office core for Issuers and Payers, to support the new dual-currency scheme.
The ability to operate in an integrated way with transactions, settlements, and merchant credits in both pesos and U.S. dollars introduces new operational, accounting, and technological challenges for financial institutions.
In this context, having a platform prepared to manage both currencies consistently is essential to maintain operational efficiency, reduce manual processes, and support the evolution of business models across the card ecosystem.
Adapting processes for dual-currency operations
The evolution of SmartOpen Anywhere includes the adaptation of different platform components to address the new requirements of Issuers, Payers, and Merchants.
Key capabilities include:
- Updated accounting and management modules to handle transactions and movements in both pesos and U.S. dollars.
- Optimized settlement import processes, considering the specific characteristics of each currency.
- Merchant credit management within the new operating model.
- Alignment with regulatory and operational requirements defined by the industry.
- Automation of U.S. dollar merchant credits as part of merchant onboarding and management processes.
- Greater transaction traceability, facilitating the monitoring of movements, settlements, and merchant credits.
- Integration with the institution’s existing processes, minimizing the impact on current operations.
Flexibility to support new operating models
Introducing a dual-currency model involves more than simply adding another currency to existing processes. It requires reviewing business rules, operational workflows, accounting processes, reconciliations, and integrations with the different participants in the ecosystem.
The flexibility of SmartOpen Anywhere makes it possible to adapt these processes while maintaining a comprehensive view of the card business and enabling the progressive incorporation of new requirements.
This allows financial institutions to evolve their operations without having to completely rebuild their technological architecture, preserving current integrations while adapting processes to new market conditions.
Technology prepared to support business evolution
At Team Quality, we continue working alongside our clients to anticipate industry changes and transform new operational and regulatory requirements into concrete capabilities within our platforms.
Our goal is to help Issuers and Payers address these changes with configurable, integrated tools designed to evolve together with their business.
Discover SmartOpen Anywhere
Discover how SmartOpen Anywhere enables Issuers and Payers to manage and evolve their card business with greater flexibility, integration, and operational control.
Learn more about our SmartOpen solutions for Issuers and SmartOpen for Payers.