RedCloud One Platform
Cloud platform for Financial Services
RedCloud 1 reinvents how financial services are delivered in the digital age. A platform informed by the learnings of the development team behind the seminal M Pesa service, it sets a new benchmark for the financial services industry. As a Cloud-based, software-as-a-service infrastructure, its pioneering transaction engine powers the breadth of consumer & SME financial services in the digital age.
Defined by its configurability, the platform is complemented by a broad range of institutional and end-user interfaces, meaning financial services can now be delivered to anyone, anywhere, using any device. Built for those providing consumer and SME facing services, RedCloud 1 works with other systems through a standardised set of open APIs, leading to richer features and better customer experiences.
Find out more below about how RedCloud 1 platform can enable organisations to launch new services to markets in record time, confident in the knowledge of a technology that meets and exceeds customers’ needs.
Pioneering Transaction Engine
At the core of the platform is RedCloud’s ground breaking real-time transaction engine which powers financial activity across the service. Your organisation and customers benefit from an intelligent identity model and set of configurable transaction types, rules and roles resulting in a platform which puts you in control. The engine supports the creation of single or multiple accounts for consumers, businesses and agents meaning the best in platform flexibility and scalability.
Say goodbye to limits in how customers interact with you. RedCloud 1 supports practically any connected device type meaning anyone, anywhere can now benefit from your services. A wide range of channels can be used to interact with the platform, including the ability for customers to access the service via smartphone and tablet apps, web, and protocols more common to feature phones like USSD, JavaMidlet, STK and SMS. What’s more, you’re able to configure parameters once, and simultaneously run across a variety of channels, saving both time and overhead costs.
RedCloud provide preconfigured end-user and management interfaces which complement the transaction engine and can be white-labelled to your organisation’s own brand. If your organisation already has existing end-user interfaces (like a smartphone app) RedCloud’s platform can work behind the scenes so new features can be added to your channels in record time. Alternatively, it can work purely as an interface ‘front-end’ complementing existing core banking systems or other infrastructure.
RedCloud’s vision is for an interconnected world where transactions run through the web are as easily as online messaging takes place today. That vision is fast becoming a reality, in part because of the Cloud. RedCloud is able to support a breadth of deployment options including delivery thorough Microsoft’s Azure Cloud infrastructure which enables fast, scalable and reliable deployments with a lower overall cost of ownership. In accordance with business goals and regulatory requirements we also support a partial Cloud solution, where sensitive data and cryptography is held locally, and also dedicated data centre models where deployment takes place in situ.
Imagine a platform that empowered service providers to tailor a system to make it their own. What if there were tools that allowed a range of parameters to be fine-tuned in accordance with the specific need in a particular market? It’s for that reason that the RedCloud 1 platform allows providers to quickly and easily define transaction parameters like features, language, charges, workflows and notifications. End user interfaces can be effortlessly re-skinned and presented in your brand so you can continue to own the customer experience. With RedCloud 1, these tools come as standard.
Delays and costly change-requests can also become a thing of the past through our innovative My RedCloud module. Using intuitive task-orientated inputs and drag and drop user interfaces, service providers can directly configure parameters without the need to go to their technology vendor, resulting in a service that’s nimble and one that quickly accommodates customers’ needs.
No technology sits in isolation. Platforms needs to collaborate with existing parts of a dynamic ecosystem. Integrating with those other components has historically been a difficult and costly part of launching new services. But with RedCloud’s suite of pre-configured integration options delivery no longer needs to be an issue. Our open architecture, led by a set of standardised open APIs, ensures the platform seamlessly communicates with other systems meaning connections are secured and a broader range of features can be enabled. RedCloud has deep experience of integrating with a range of different systems including those as varied as core banking systems, card infrastructure, MNO software, middleware and to third party providers
RedCloud also provide the tools to manage the platform from a single web location. One of the benefits of the portal is an advanced Customer Relationship Management feature which allows service providers to meet the needs of their customers conveniently and swiftly. Beyond this, providers can define and maintain end user products, administer and interrogate specific transactions, manage bulk payments, as well as to add single or multiple new identities to the service. The portal even takes care of accounting where funds can be credited or debited from the platform, as well as providing a place for Trust bank account reconciliation to be managed.
Security & Regulation
Security sits at the heart of RedCloud 1. Its design principles were informed by the belief that no data or transaction should be compromised. The platform is architected to mitigate such issues by adopting a range of industry-leading protocols and features that protect users of the service. Role-based authentication, tokenisation, use of SSL and HTTPS, anti-forgery tokens, and encryption techniques are some of the methods RedCloud uses to secure the service. Complementing those is a configurable set of KYC, AML and Audit processes that can be tailored to meet specific requirements. The transaction engine also monitors, records and reports all activity that runs across the service – the result is a platform which service providers, customers and regulators have unrivalled confidence in.
Big Data Analytics
Transactions shouldn’t just about their utility in moving money from one place to another. The Analytics suite has been architected to provide a range of pre-configured insights available not just to service providers but also to other stakeholders who facilitate the service – like agents and merchants. The result? The whole ecosystem can start to use transaction-orientated big data to drive business strategy and product innovation.
RedCloud doesn’t believe in large up-front set-up fees and high barriers to entry. Instead, our software-as-a-service model provides a more manageable solution where the platform is licensed on an ongoing basis. Tiered pricing based on the number of end users means you have a technology that supports your service as it grows, and one where you have guaranteed immediate access to the latest updates and releases.
Ready to find out more? Contact RedCloud here.