Softjourn Knows Prepaid Card Technology

Between their ease of use, support for microtransactions, and accessibility to the disabled or infirm as well as those without standard devices or regional communication infrastructure, contactless payments are sure to be the future. Try them out now in your prepaid solution

Softjourn has experience developing prepaid card software that leverages blockchain, the cryptographic technology that is taking the world by storm. Through a shared, distributed ledger, blockchain enables low-cost prepaid transactions including direct currency conversion and can increase security by several mechanisms including prevention of data tampering

The payment card industry is shifting dramatically towards the utilization of biometrics. Stolen cards, identity theft and other malicious activities are a massive drain on resources, not to mention the effect on cardholders. Common authentication methods are too easily compromised and that's why biometrics are so important for authentication in finance.

Nearly three-fourths of online consumers become increasingly frustrated with websites and their content when they feel that content does not reflect their interests. By focusing in on where your potential customers will be and showing them what’s not only locally available to them but is also related to a current or past interest, you have a stronger chance of increasing and maintaining sales, not to mention increasing and retaining brand loyalty.

Our solution simplifies receipt processing for corporate clients. Employees upload receipts via smartphones, and our OCR system efficiently extracts key information. Standard templates ensure accuracy in extracting total amount, tax, and vendor details for validation. MSCS provides a "raciness" indicator for potential inappropriate expenses. Save time and ensure accuracy with our streamlined solution.

AI-powered mobile banking apps offer a personalized experience for the user and can go as far as helping customers plan and budget their money. One of the most exciting and tangible AI trends is automating customer service through chatbots—embedded within banking apps. AI-powered chatbots can deliver benefits beyond the obvious human labor cost saving, providing true virtual assistance—including transactional capabilities, advice based on individual behavior patterns, and even opening accounts.

Biometrics Bodily features are particularly difficult for thieves to obtain. Whether fingerprints, voice recognition, or retina scans, our advanced biometric interfaces will keep your accounts safe, with minimal inconvenience to users Softjourn recently completed a fingerprint authentication project for a prepaid card innovator and leader in expense and spend management. Our experience with this client has demonstrated how fingerprint verification can dramatically improve the look and feel and effectiveness of a mobile application. The payment card industry is shifting dramatically towards the utilization of biometrics. Stolen cards, identity theft and other malicious activities are a massive drain on resources, not to mention the effect on cardholders. Common authentication methods are too easily compromised. Passwords are easy to guess or crack with free software. Email addresses and social security numbers are readily available for sale on the internet. It's a system that's simply too easy to manipulate and very difficult to defend.

Automatically extract key information from uploaded receipts, to save clerical work, ensure that transactions are processed in a timely manner, and allow for analytics that can validate and categorize submitted transactions The corporate customer’s employee scans and uploads a picture of their receipt, taken with their smart phone. Softjourn’s proof of concept (POC) sends it to MSCS’s Computer Vision API to perform optical character recognition (OCR). This pulls out editable lines of text from the receipt image, which are returned to the POC along with indications of Microsoft’s level of confidence in this result. Text with a low confidence level must be sent to be read by a human; other text contains errors that Softjourn can correct automatically. Next, templates encoding standard receipt formats are selected and applied to extract the various important pieces of information from the receipt, including transaction total, amount of tax, card charged, and address of the establishment. This allows for initial validation of transaction totals. Receipts from designated vendors may already have an approval code ̶̶ for others there may be more work to do for validation. To this end, MSCS also returns a “raciness” indicator (checking for a situation in which the expense ought to be rejected for lack of relevance/appropriateness).

Is the productivity of your employees hurt by fraud checks on their essential purchases in far-flung locations? Use the location of a user’s mobile device to validate that they are responsible for foreign transactions, without inconveniencing every traveling employee. You can also limit spending based on geographic area Nearly three-fourths of online consumers become increasingly frustrated with websites and their content when they feel that content does not reflect their interests, according to a national poll conducted by Janrain & Harris Interactive in 2013. By focusing in on where your potential customers will be and showing them what’s not only locally available to them but is also related to a current or past interest, you have a stronger chance of increasing and maintaining sales, not to mention increasing and retaining brand loyalty.

Between their ease of use, support for microtransactions, and accessibility to the disabled or infirm as well as those without standard devices or regional communication infrastructure, contactless payments are sure to be the future. Try them out now in your prepaid solution

The advent of mobile banking has inspired many changes within the banking industry. Millennials rely heavily on mobile banking, and some of the larger banks have invented ways to both engage and help this demographic with their finances. As the population has become accustomed to voice recognition assistants and predictive messaging, financial institutions have leveraged this technology to attract customers who enjoy this convenience. AI-powered mobile banking apps offer a personalized experience for the user and can go as far as helping customers plan and budget their money. The application of Artificial Intelligence (AI) is a fintech trend on its own and takes many forms (such as reducing fraud and false positives in payments processing), but one of the most exciting and tangible AI trends is automating customer service through chatbots—embedded within apps or through social media, like Facebook. The West is light years behind the East—especially China and Japan—in adopting chatbots, and financial institutions, in particular, have been slow to adopt the technology. Those gaps should shrink in 2019, as fintechs and financial institutions recognize the power of AI-powered chatbots that get smarter over time, eventually supporting full conversations through advanced speech and natural language processing capabilities. When this happens, AI-powered chatbots will deliver benefits beyond the obvious human labor cost saving, providing true virtual assistance—including transactional capabilities, advice based on individual behavior patterns and even opening accounts. Financial businesses providing these smart chatbots will capture the added benefit of rich data to target offers and anticipate their customers’ needs—creating a continual feedback loop and building. Ultimately, AI-powered chatbots will incorporate sentiment analytics, enabling responses that match human tone and emotion, and even mimicking geographic accents—giving customers the experience of communicating with a “person” just like them. Maybe the prediction of Edrizio de la Cruz will become a fact and in the future, handling finances without a chatbot will be like picturing your life without a smartphone.

Softjourn can develop a prepaid card software that leverages blockchain, the cryptographic technology that is taking the world by storm. Through a shared, distributed ledger, blockchain enables low-cost prepaid transactions including direct currency conversion and can increase security by several mechanisms including prevention of data tampering