Snaptech has been a key partner in designing Fintech software capable of withstanding numerous accounting audits, PCI & SOX Compliance, and lawsuit-grade scrutiny for more than a decade. We are proud of the established track record we have in producing reliable software that scales and withstands enterprise volume workloads consistently every month, for years, without glitches or performance degradation.
Commissions and compensation agreements are a cornerstone of financial services. Growth in major enterprise revolves around creating new markets/makers and facilitating the buying and selling of diverse portfolios through M & A. Success in this process is heavily reliant on accurate execution of complex residuals agreements; often involving customized metric qualifiers. Automation of this process is necessary for the elimination of human errors and omissions to reduce legal liability while fostering market trust.
Software automation in this arena results in many millions in yearly captured value to companies that get it right. A substantial obstacle for most organizations in achieving that objective is locating and retaining the unique talent capable of designing abstract automation software. Engineers for such systems must understand software in a manner similar to designers of programming languages & compilers -- providing a broad degree of variability in concrete outputs through the creation of a tightly governed abstract environment.
Design a cloud-based accounting and commissions payment platform that is source-redundant from the ground up consisting of the following major criteria:
- Administrative UI for schedules, rates, rules/qualifiers, dynamic prioritization, labels
- Reporting UI for Internal Audit
- Reporting UI for Portfolio Managers
- Reporting UI for End Clients
- ACH Integration
- Validated ETL (Regex/Automaton, Range, Mappings, Parallel) including from COBOL mainframes
- Match to monthly statements
- Cumulative Rounding / Error bounds containment
- Real-time auditability
- Versioning of configuration changes
- Encapsulated for backup & external audits
We were granted sole responsibility for the design, architecture and implementation of the compensation platform including ETL, Analysis, Adjustments, Reporting, Publishing and ACH. The software product has been operating reliably for over 5+ years with ease of adaptability to new integrations. Furthermore the new system has acted as a powerful bulwark against lawsuits while improving end-client comprehension and confidence in the numbers.
We crafted a loosely coupled architecture with a functional paradigm permitting new 3rd party partner integrations and data sources to be added without any disruption to the existing processes. For the purposes of robust data and process verification we devised redundant cross-checks against 3rd party billing statements, summary reports, etc.
Beyond the creation of the software we worked side-by-side with the finance department including all training and handoff of the configuration and ongoing operation to the commissions team.
Annual Payment Volume
Small & Medium Businesses
Timely. Accurate. Reliable.
Individual Entity Analysis
To a single transaction
- React –– Open-source, mature, well-documented
- Kendo UI –– Open-source, well-documented, powerful & uniform UX, charts
- .NET WebAPI 2 (C#) –– REST-based versioned API
- NodeJs / Express / Swagger–– Lightweight, open-source, scalable, modern API
- MSSQL –– Distributable, Set-based logic for "audit anywhere"
- ETL (asynchronous regex validated, .NET, Apache/Hadoop/Spark) –– Automaton / Pattern-based Imports
- Custom –– Analytics / Reporting by Snaptech
- PCI Compliant
- Tsys / Synovus / Global Payments
- First Data / Fiserv
- Payment Express