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so as the relationship grows, they don't grow apart," said
Joyce Mehlman, Owner of iLEX Consulting Group. The first step entails changing
the legacy mindset among the
Executives must realize that moving to a modern pay-
ments processing ecosystem that leverages the best of C-suite and staff who may have
their current operations combined with fintech flexibility years of deep connection
will require a paradigm shift. The first step entails chang- working with legacy systems.
ing the legacy mindset among the C-suite and staff who
may have years of deep connection working with legacy
systems. In the rapidly changing payments ecosystem, neither fin-
tech nor legacy back-office systems can address the needs
Some companies may need to hire new talent who under- of banks and payment processors on their own. Through
stand the benefits of fintech and modern platforms. Part- collaboration, companies can leverage the benefits of both,
nering with an experienced consultant to develop a suc- gaining a trusted, compliant system that is agile and can
cessful collaboration strategy and ensure effective change quickly adopt the latest payment methods while delight-
management is a good idea. ing clients.

Inviting the entire operations team to the table early and
gaining buy-in on selecting a fintech payments vendor is Casey Scheer is the director of marketing at BHMI, a leading provider of
also essential. To drive collaboration, both internal and ex- software solutions focused on the back-office processing of electronic
ternal parties must be present, accountable and engaged payments. The company is best known as the creator of the Concourse
in operational governance with shared responsibility. Financial Software Suite® — a unique integrated collection of back-
Both parties should also establish tools for collaboration office products that allow companies to adapt to the rapidly changing
and identify the building blocks needed to move to a mod- world of payments. Casey can be reached at casey.scheer@bhmi.com
ern, agile payments ecosystem that leverages the best of or 402-333-3300.
both worlds

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