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Transactional orchestration: interoperability, security and compliance

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Transactional orchestration


f companies want to offer their customers a more complete and personalized experience, they must learn to use platforms that incorporate all the tools that play a significant role in carrying out each digital transaction. The citizens demand that all solutions with which they interact, be quick and simple. Companies must at the same time ensure that this relationship is based on trust, security, and legality. To make this possible, all applications must work together in a coordinated and interoperable manner, to cooperate and behave following the same criteria.

The orchestration solution will synchronize workflows and carry out performance tests in real time and in the correct order. Each customer journey is unique and has its own traits, so an intelligent orchestrator will know how to adapt at each step, always complying with the most advanced security standards.

Initially, the orchestrator will gather as much information as possible from the client, including third party data. Secondly, it will conduct a comprehensive risk analysis, while considering the context and regulatory framework. This step is crucial for detecting fraud and preventing money laundering or identity theft. After this analysis, an overview of the customer’s profile and a status report is generated. This helps to decide the next steps, such as predicting the customer’s needs. Orchestration technology will only succeed if it is able to determine where all the collected information originates from, whether this information is genuine and adequate, and decide what must be done if the data and attributes are insufficient or unclear.

Thanks to this specific process, the organization will understand its customer, not only from a technical point of view, but from a human aspect as well. Also, the customer’s expectations regarding his custom-made experience with the absence of friction, will be met.

Generally, it is vital that all orchestration tools meet several requirements. They must be scalable, this way they can adapt to an increasing number of customers. Obviously, speed at which they can work at will be an advantage, so as not to discourage the user and be truly competitive. Accuracy, a flawless design, a smooth experience throughout the entire process, and a clear focus on the client, are all key to its success; especially when dealing with onboarding of new and ongoing clients. But, above all, success stems from creating interoperability and a single evaluation standard to carry out the processes.  Also, all orchestration channels must work with an equal significance and strictness. A consistent experience means a satisfied client. So much so, that it is said that 49% of people purchase impulsively, as a reaction to a positive experience.

Orchestration today is making use of low-code or no-code development tools, allowing non-programmers (i.e., the company’s compliance and fraud experts) to create and manage transactions. No-code development allows for the implementation of new processes while optimizing the workflow management.

Orchestration organizes the different areas of the customer experience into storage units and builds a true omnichannel strategy, eliminating any gaps and inefficiencies. It expands its view with a general concept, embracing the whole journey as it happens and not just focusing on each separate customer-company interaction. The orchestrator records every step of the customer’s journey during and after the purchase or contact with the company, keeping all areas informed. Thus, loyalty is established, and an affinity is built with the brand, an affinity that exceeds what would be a simple one-time operation. As employees get a clearer understanding of who the target customer is, they also get a feeling of greater commitment.

The combination of these automation, analytics, and artificial intelligence tools, takes the customer on an orchestrated frictionless customer journey, connecting organizations with their users, not only on a technical but also on an emotional level, generating trust and building meaningful and lasting relationships.

Orchestration allows companies to be more proactive and make better decisions in the future. In a nutshell, a secure digital transaction orchestrator creates an interoperable ecosystem focused on the customer’s identity, that complies with the specific regulations of each transaction, storing all evidence generated during the processes in one single file, allowing for the reversing of the burden of proof in the event of litigation. A safe bet that any company should include to simplify and protect their clients’ transaction procedures.

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