An SME in the Big Leagues

With its solution Tango, the SME LUSIS has become a key player in the field of electronic payment system. Philippe Preval, CEO of LUSIS, tells us more on this success story.

*This is a translated article from “LA JAUNE ET LA ROUGE” The review of Polytechnique.

A few excerpts from the story. To read the full interview please visit:
https://www.lusispayments.com/news/business-life-an-sme-in-the-big-leagues

What is an electronic payment system and what are its characteristics?

Payment banking systems are designed to manage the electronic payment flows (transactions, credit cards, transfers …) of financial institutions and terminals (ATM, POS, API’s …). They are mission-critical systems: they must operate without failure, 24 hours a day, 365 days a year. This defines a particular class of systems where error is forbidden, where everything must be thought of in terms of very high performance, infallibility, high availability such as the possibility of changing components without stopping the service. Moreover, they are in direct contact with the general public and handle considerable amounts of data. In the event of an issue, there would immediately be thousands affected and it would be widely known.

Finally, given their complexity and the difficulty of their implementation (certifications, migration, connection to equipment of various generations), these systems must last at least 15 years. If you had to replace them after 10 years it would be an economic failure (ROI not found) and technical failure (loss of industry credibility).

As payment hub providers, you must therefore provide a powerful, safe and innovative solution that can evolve over time at a reasonable cost. You must always plan for the medium term.

What is Lusis’ DNA? What strategy and sectors does your solution cover?

Our DNA is based on involvement, independence, innovation and loyalty. Involvement means respecting time frames and aiming for zero defect. I’ve never considered failure a possibility no matter what the difficulty may be. Quality derives from a state of mind and value system that requires us to be top notch technically as well as to have the most efficient processes and methods. Innovation means constantly questioning our technology so that we are always faster, better performing, more flexible and more efficient.
What are your technological and more generally intellectual challenges?

As I mentioned before, we do a very demanding IT: high performance, high availability, zero defect. A payment hub must both run like a clock and be able to address areas that are applied mathematics, cryptography, AI, and blockchain. In addition, it must be both open and very secure, stable and able to evolve very quickly. It is a chain of oxymorons. You have to like complicated problems, difficulties, abstraction, and at the same time, be very pragmatic, produce a high level of code quality in C ++ and Python. That’s why we need diversity: no one can cover the whole spectrum and that’s what makes this job exciting. I don’t think we can do this job without passion. Without taking a real pleasure in doing what we do, it always ends up missing an axis of excellence.

What are the trends that mark the market today and how do you capture them?

At the moment it moves a lot and, on several axis, it disrupts, it’s turbulent, it quivers, it disassembles in all directions. First, there are the GAFA that disrupt the payments ecosystem, the MPAs, the new entrants who destabilize the established players. Then there is the rising API that Europe is trying to channel with PSD2: in short, traditional players are becoming providers of information or service in the form of APIs. At the same time, there are new standards such as ISO 20022, which carry much more data than in the past and open up new services. There are totally new technologies like the blockchain that you have to integrate, use, evolve. To top it off, there are several purely technological changes, such as the Cloud, which calls into question everything we thought we knew about infrastructure or the growing demands on security. All of this happens as a series of relatively independent but concomitant upheavals.

The moment is exciting. With its TANGO micro-service architecture technology completely independent of the infrastructure, its method integrating SCRUM and CBSD, LUSIS is ideally placed to meet these challenges. This is understood by a number of North American institutions who see us as technology partners who can help them get out of the “legacy systems” and face this world full of dangers but opportunities.

To read the full interview please visit:
https://www.lusispayments.com/news/business-life-an-sme-in-the-big-leagues