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NewProduct

chat, phone and social media. Companies and their
customers can track requests throughout an incident/
response lifecycle, from initial ticket openings to com-
pleted actions.

Company: Tern Commerce Core platform features
Product: SPAN Platform Tern noted that its tools and resources for domestic and in-
Website: www.terncommerce.com ternational programs include the following:
Contact: hello@terncommerce.com • Automated user screening: Know your customer
(KYC) and customer identification program (CIP) re-
Secure, brandable, quirements vary across regions. SPAN provides all the
tools to manage these identity requirements, includ-
ing comprehensive reporting and screening against
global prepaid platform all necessary Office of Foreign Assets Control, Spe-
cially Designated Nationals and sanctioned screening
requirements.
ew York-based Tern Commerce launched • Program dashboards: SPAN's expanded library of
SPAN, a global remittance platform designed real-time reports and dashboards facilitate seamless
for secure, prepaid and stored-value deploy- program management.
N ments across multiple regions, languages and • Program accounting, billing, payouts: Cost account-
currencies. The solution was developed with US Unlocked, ing and affiliate management are frequently over-
a company Tern acquired in 2015. Its application program- looked elements of a stored-value program. SPAN
ming interface (API) libraries, web services and technology provides multitiered agent and affiliate support, with
stack are simple to configure, integrate and customize, advanced analytics to track profitability and perfor-
company representatives stated. "US Unlocked had been mance.
providing U.S.-issued prepaid cards for cross-border shop-
pers since 2008," said Brion Bonkowski, Chief Executive • Online portals: Secure, in-app and online on-board-
Officer at Tern. "In 2015, we began re-platforming their IP ing and service portals provide a single-access view
into a modern framework with multitenant capabilities to across an enterprise, backed by 24/7 support. Brand-
accommodate a variety of programs. Tern built out and able, consumer-facing portals enable customers to use
productized the underpinning technology to create a new mobile apps or APIs to look up transactions and view
commercial platform called SPAN." account statements.
• Web-enabled services: Tern engineers developed the
Addressing cross-border requirements API-driven SPAN platform to simplify integration and

The company stated that its innovative tools and feature sets customization. Developers can access the REST API
are designed to address numerous cross-border remittance through a web portal or mobile app.
requirements, including the following: Global commerce solved
• Compliance: SPAN's network is continuously updated
to meet legal and regulatory requirements worldwide, Bonkowski stated that despite growing adoption of prepaid
including anti-money laundering (AML) guidelines and stored-value products and services, companies around
across multiple countries, territories and regions. the world lack the infrastructure and technology to launch
and sustain these programs. He and his partners saw a need
• Risk management: Built-in risk management with ad- for market-ready solutions to support a range of program
vanced tools to monitor and detect fraud in real time management needs. They created SPAN to help program
at the cardholder and merchant level enables compa- managers reduce time to market and help companies design,
nies to mitigate risk throughout the SPAN network. launch and scale card management programs. "In 2010,
• Infrastructure: Companies can leverage SPAN's Tern founders saw a need for a modern prepaid platform
ready-to-deploy, inclusive platform to launch prod- with cross-border capabilities," Bonkowski said. "We met
ucts and card management systems, reducing time to with regulators, legal analysts, and potential partners to
market. explore the market and acquired US Unlocked in 2015 to
• Card issuance and distribution: SPAN partners can help jumpstart our vision." The company is named after
the Arctic tern, and the SPAN platform is named for the
leverage the technology platform to issue and distrib- bird's impressive wingspan, Bonkowski noted. "Terns can
ute cards, manage affiliates and sales agents, and uti- travel for up to three years without nesting, and they have
lize advanced couponing options. the longest migration cycle on the planet," he said. "The
• Support services: SPAN provides multilingual, multi- tern can also serve as an icon for the evolving payments
currency support for card-to-card transfers and global industry as we migrate from wired to mobile technologies
remittances. These services are available in online and from local to global marketplaces."

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