Based on its recent analysis of the payment processing platform market, Frost & Sullivan recognises Form3 with the 2018 European Customer Value Leadership Award for it’s comprehensive and unique Payments-as-a-Service (PaaS) solution, which is a native cloud-based platform.
“Form3’s full Payments-as-a-Service processing solution facilitates customisation for clients and creates a scalable set of services perfectly aligned with day-to-day business operations and with specific payment requirements and constraints,” said Jean-Noël Georges, Global Program Director, Frost & Sullivan.
Form3 offers a unique PaaS solution within a payment processing platform ecosystem for financial institutions and regulated financial technology firms. The company’s cloud-based platform supports three key areas: payment processing, clearing, and settlement services. In addition, Form3 facilitates access to the entire payment ecosystem, including direct access to a wide variety of payment schemes, networks and bank partnerships. The company’s innovative approach, combined with its pay-per-transaction business model, expedites its clients’ migration from complex legacy banking and payment systems to a more flexible, efficient and scalable cloud-based infrastructure.
Form3’s solution requires only a single Internet-based API integration for clients, minimising their upfront costs. Furthermore, the platform’s micro-services architecture incorporates a modular and configurable structure that aids scalability and facilitates growth of future applications and services. The flexibility of the Form3 platform makes it easy for the company to adjust its managed services to comply with local regulations and answer new market demands as they arise, such as instant payments, sanction screening and easier payment scheme access.
“Form3’s product strategy is built around the provision of payment services which are pure and simple, running on a highly-resilient platform designed for volume processing at high speed with high availability,” said Georges.
Form3 has built a scalable, cost-effective and easy-to-integrate solution that meets the changing needs of the financial services industry. For these reasons, Form3 has earned Frost & Sullivan’s 2018 European Customer Value Leadership Award.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively creates value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognises the company’s unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
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