Press release

Paragon Application Systems Experiences Significant Momentum in its 25th Year

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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

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.