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Iliad Signs Agreement with Global Payment Scheme
Press Release – Leeds, UK, 13th July 2017
Iliad Solutions today announces an agreement with a global payment scheme in the United States. They will be replacing all their existing test products with their t3:Switch platform, which will be used in all countries across their global IT function. This is the second global client that Iliad has secured since it expanded into the United States earlier this year.
Anthony Walton, Iliad CEO, believes that payment companies and banks are increasingly reviewing their approach to testing because of the associated costs and the need for rapid deployment of changes. He explains:
“Research shows that around 30% of IT budgets are spent on testing, and this is expected to rise to 40% over the next two years. This increase is due to the need to bring legacy systems up to speed, take advantage of open APIs and comply with regulatory changes. The problem organisations face is that they are too reliant on manual testing which increases risk and cost.”
Anthony believes that the payment industry has become frustrated with the limitations of manual testing and now recognises the benefits of a platform based approach.
“It makes no sense to invest so heavily in new payment systems without also investing in the approach taken to test them effectively. Targeting spending at the right types of test automation enables financial institutions to reduce test expenditure significantly, and instead use the money to invest in new technology.”
Steve Wright is the COO at Iliad and regularly speaks to organisations in the US and EMEA that are struggling to launch new technology, and regularly faced with delays and overspend. He believes there has been a sharp change in attitudes towards new approaches to testing, and organisations relying on manual testing are now in the minority. He said:
“Automation of payment testing not only reduces your project costs, but allows the test platform to be used 24 hours a day by testers globally. They can simultaneously use the platform for prototyping, testing, accreditation and certification purposes. This functionality allows you to test the business flow as opposed to simulating individual pieces of the transaction, so decreasing the risk in new deployments. This helps to protect your organisation from high profile failures, improves speed to market and reduces cost.”
The US-based card scheme will use Iliad’s t3: Switch platform and be supported by their team of experts during the transition. The new system will be fully operational by the end of July for all countries, which means that cost savings will be realised for the second half of the year. The t3:Switch solution supports teams in multiple centres through a single database containing the tests and results, exposing them to the team as a whole and removing the delays associated with individuals having sole ownership of a specific piece of technology.
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About Iliad
Iliad Solutions has over 25 years working on payment innovation. We have been at the forefront of building, implementing and supporting major payment solutions. Our experience has led us to develop the most comprehensive and resilient test solutions available in the world today. Iliad’s test platform enables you to emulate a real world transaction across legacy systems, multiple legs, APIs, web services and tokenisation. People using Iliad save time, save money and increase the confidence in their core systems. Our global customer base trusts us to take the risk out of payment testing.
Iliad Products
t3: V7
V7 is a sophisticated simulation platform for payments testing. It supports functional and non-functional testing via a single extendable product which consolidates protocols, test data and collateral into a single auditable environment.
t3: Switch
This is the third generation testing software solution created by Iliad. The focus is to deliver the power of service virtualisation to payments testing, marrying virtualisation with the specific technical requirements of the payments industry.
Contacts
Steve Wright, Chief Operating Officer
Leeds, UK
+44 (0)7788 927607
steve.wright@iliad-solutions.com
Erik Wulfers, US Business Development Director
Dallas, TX
+1 817 812 3533