Paragon Application Systems experiences significant momentum in its 25th year
Company completes several large projects for payments organizations, experiences record Q1
HOLLY SPRINGS, NC (May 2, 2019) — Paragon Application Systems, the leading independent provider of payment testing solutions for the financial services industry, has recently signed several new clients and expanded other long-standing relationships to help these organizations meet rapidly evolving market requirements. Paragon has just entered its 25th year in business with the best Q1 performance in the company’s history.
Below are some of Paragon’s recent accomplishments:
- Signed new agreements with top tier financial institutions in the U.S. A top 10 bank and a top 20 credit union are deploying Paragon’s VirtualATM testing solution to facilitate their Windows 10 migration projects. VirtualATM provides 24×7 access to a virtualized test environment, improving collaboration, increasing test coverage and reducing migration time.
- Built an EMV™ 3-D Secure testing and certification environment with a top 5 global card brand. The Paragon EMV 3-D Secure simulator enables merchants, issuers or vendors to test any time, from anywhere and provides immediate feedback on the status of their testing. The solution has helped the client reduce certification timelines from months to days.
- Extended its relationship with a top 10 global transaction processor. Paragon will help this long-term client implement an automated, cloud-based, on demand self-certification system. The Paragon Web FASTest-based platform will provide 24x7x365 access to the client’s certification environment so that its members can test at their own convenience. The solution will greatly improve efficiency, provide project view snapshots of member progress throughout the onboarding process and significantly reduce overall certification timeframes.
- Deployed a Web FASTest-based regression suite for a 20-year partner. Paragon developed and deployed this solution to help a global financial services technology company generate and continuously run ATM fault scenarios against its device management system. The Paragon solution will enable the company to better track and evaluate the timeliness and accuracy of its internal systems’ response to various ATM fault conditions.
- Expanded its partnership with a top 3 global card brand. Paragon will deliver an enhancement to this client’s existing Web FASTest environment that will automatically generate clearing files from various endpoints. The clearing files will exactly match online transaction runs to facilitate end-to-end lifecycle testing. The solution gives the client total control over the testing process without having to rely on external parties to generate clearing files.
- Grew its global presence. Paragon continues to work with leading banks and financial services organizations from across the globe. Paragon is currently helping one of the oldest and largest financial institutions in Southeast Asia to automate their ATM testing environment and migrate to Windows 10, supporting a top-tier bank in Indonesia during a switching platform migration and is working with a national POS switch provider to replace their legacy testing tools to increase automation, improve efficiency and expand test coverage.
“Consumers have come to demand instant and always-on access to their money, data and financial services and are very unforgiving when a payment transaction is less than perfect,” said Jim Perry, CEO of Paragon. “Many payment processing organizations struggle to meet these increasingly high expectations because they lack the modern test tools necessary to ensure the best possible customer experience. The complexity and pace of change within the payments industry further complicates this challenge. Over the past several months, we have seen increased activity from both new and existing clients who are seeking to modernize, automate and integrate their testing capabilities.”
About Paragon Application Systems
Paragon Application Systems is the leading independent provider of simulation, configuration, certification and end-to-end testing solutions for the payments industry. Paragon has enabled more than 600 financial institutions, major interchanges, software providers and payment processors across 90 countries to improve testing quality and reduce time to market. The company’s software and services empower financial services organizations to deliver the services their customers need, when they need them. Visit www.paragonedge.com for more information.