Customer Story – Trust Payments
How iMovo helped a global financial services company Trust Payments, optimise productivity and efficiency.
iMovo’s implemented Solution
Trust Payments (Malta) Limited is a financial services company regulated by the Malta Financial Services Authority. It is part of a global unified payments group that has a presence in the UK and USA. The Malta entity is the acquiring bank and principal member of Visa and Mastercard. The UK entity enables the technologies that drive Trust Payment’s powerful fintech platform and omni-channel converged commerce. The group offers POS, mobile and in-app payment processing, pay by link, and intelligent payment gateways and merchant acquiring services across verticals.
Payment services today are fuelling the convergence of various industries. The digital customer base is growing rapidly, and payment channels and transactions are serving as a connector or facilitator for other services. These two developments have led to an increase in convergence, pulling in different sectors that use payments, from banking and commerce to transportation and ticketing. As a relatively young and fast-growing player in this converging commerce space, Trust Payments helps manage the payments of established incumbents and emerging businesses.Trust Payments uses the Salesforce customer relationship management (CRM) software, which has over 150,000 customers worldwide. As the business volume increased, they faced challenges in automating their processes and workflows. In an acknowledged fast-paced sector some of the workflows and processes had been rendered obsolete or out-of-date and, since Trust Payments could foretell that they would need a strong team of Salesforce development resources, with the necessary competencies, the company took the decision to engage an external service provider.
Trust Payments had previously engaged iMovo to make the most of their data visualisation and analytics platform Tableau. Additionally, Trust Payments’ employees had experience working with iMovo on different projects at their previous workplaces. Consequently, the company’s high-level service expectations were quite set in view of prior engagement.
When choosing a Salesforce consultant, Trust Payments considered criteria such as efficiency, availability, speed of delivery and costs. iMovo’s representatives quickly grasped their requirements and plans, and proposed flexible solutions, which the company valued especially in the initial stages of engagement. Therefore, choosing iMovo as the preferred Salesforce development consultant was an easy choice.
The people involved in the decision-making process were the Project Manager, Group Head of Data Analytics, and an in-house Salesforce Developer. The final decision on signing the deal with iMovo was taken at the executive level, and within a month, iMovo were on board.
The iMovo team stepped in – interestingly on the first day of iMovo’s 2020 work-from-home lockdown due to the COVID-19 pandemic – initially to enhance Salesforce processes and workflows and they gained a thorough understanding of the client’s requirements and expectations. As certified Salesforce consultants, iMovo were able to design workflow actions and configure workflow rules and approval processes speedily. This was crucial to ensure that the system wouldn’t collapse under the weight of the increasing business volume and disrupt customer experience. Trust Payments was also interested in having dedicated Salesforce resources as it would allow them to automate rapidly and at scale, eliminating repetitive manual tasks and freeing up the time of in-house staff for other activities.
The main aim of implementing Salesforce is to automate processes that drive efficiency and productivity gains in areas that are most impactful for the business. With adequate Salesforce experience and resources, businesses can create paths to optimum effectiveness for key processes and projects.
iMovo’s assistance enabled the Trust Payments team to improve their Salesforce workflows and processes, and the resulting successful automation of business processes enhanced staff productivity. The Trust Payments team are now able to complete projects quicker and more efficiently.
iMovo’s engagement with Trust Payments is an ongoing one. We have provided the client with four dedicated resources who execute tasks and projects continually. By onboarding us, the client has more dedicated Salesforce development resources to handle spikes in business volume and adapt to growth. Working as an extension of the client’s in-house team has also resulted in a transfer of skills and knowledge.
“Working with iMovo has been so far a very positive experience. The team is highly experienced in their field of work. Their approach makes it very comfortable for us to work with them, and we appreciate that iMovo can provide us the flexibility we need. We hope that this relationship continues over time.”
As part of the work related to compliance, iMovo assisted Trust Payments with the automation of processes related to the Know Your Client (KYC) Compliance requirements.
Other than automating the processes to ensure efficiency across the process, iMovo also assisted in the automatic validation of client information to include:
In this way, a new customer can be checked and validated automatically across with minimal human intervention and the risks inherent without such processes.
The layered Salesforce platform requires comprehensive knowledge and training for efficient development and management. Companies prefer to engage Salesforce-certified consultants over hiring full-time Salesforce developers as it allows them to save substantial costs. A reliable, ethical-minded external provider will be enthusiastic about sharing knowledge, tips and best practices with clients.
For many companies that depend on Salesforce to manage global customers, a strategic Salesforce roadmap is a priority. They engage Salesforce strategists and consultants to define development requirements, plan the necessary integrations and leverage the best tools to generate the desired tactical and strategic gains. The use of smart practices and right tools cuts down development costs and time significantly.
As Trust Payments uses Salesforce across their entire organisation, it may be even more beneficial for them to develop a roadmap to streamline and grow different areas of their business. Gaining a correct understanding of the available options, and creating a plan that guides business processes, systems and people two-, three- or five years from now requires expert inputs and organisation-wide collaboration. With the required resources and interactions in place, it will be easier to create a long-term vision for Salesforce.
Disclaimer: All product and company names herein may be trademarks of their respective owners. To the best of our knowledge, all details were correct at the time of publishing; this information is subject to change without notice.