Benny Cooley, Founder of PaySett Corporation, has founded PaySett with the vision of improving “The Way Money Moves®”. PaySett solely focuses on assisting financial institutions with improving their payment processing systems.
As a leader, Benny has the responsibilities to ensure his entire organization is focused on the vision to improve “The Way Money Moves®”. To also insure that the company’s culture promotes a sense of learning and engagement allowing his people to be passionate about the vision and to effectively execute that vision with the company’s clients. This ensures that PaySett clients gain maximum benefit from PaySett products and services. In essence, Benny is responsible for ensuring that the right things happen at the right time for the right reasons.
Backstory of PaySett
Prior to PaySett, Benny has spent a decade working at financial institutions, understanding their challenges related to processing electronic payments and another decade working for payment software companies building payment software for financial institutions. From that perspective, he saw a better way for banks to manage their payment processing. With his experience of working inside of banking operations, Benny perceived that he needed to approach the problem from a more evolutionary approach to allow the banks to transition to a new way to move money more securely, cost effectively and efficiently. Benny knew that banks have a large investment in their current processing environments and any change to those environments needed to be well managed and controlled with a clear ROI for new projects.
Benny had consulted with some of the largest banks in the world with regards to payment systems. As he travelled and lived around the world consulting with both banks and Central banks, he saw many innovations from different parts of the world that could be combined to build truly innovative products that could be distributed globally to improve “The Way Money Moves®” around the world.
Knowing the need of the market, with the experience in the field and the passion to improve the way money moves, Benny founded PaySett Corporation.
PaySett Corporation: Changing The Way Money Moves
PaySett Corporation is a global company comprised of global payment industry trained individuals focused on developing secure and reliable large scale payment systems at a national level. Their Payments System design expertise has been acquired from their direct experience with the implementation of National Payment Systems in many regions of the world as well as the implementation of their Core Payment processing systems in many of the largest banks in the world.
PaySett has derived its name from Payment and Settlement systems, since they have expertise in both of those areas. The settlement side of the payment business is often overly complex and difficult to manage. This is an area where PaySett’s expertise is very valuable to their clients in assisting them to design new payment processes that can efficiently move the transaction and perform the settlement.
Benny’s views on Payment Innovations
It is clear many forms of electronic payments are moving to real time and PaySett offers our PayExpedite® product for real time payments. However, we also note that there are still many transactions that can and should flow in a more cost effective batch environment. PaySett offers products that allow our clients to determine the speed at which they wish to move money. PaySett also is working to simplify the settlement processing for our clients through the use of permissioned digital ledgers. Whether it is real time payments or digital ledger processing for settlement, PaySett is committed to changing “The Way Money Moves®”.
Attribution to the Team
When Benny was asked about what he would attribute HIS success to, he started with – “OUR success…..,” showing how deeply he binds himself with his team. Sharing that his success is attributed to his team, Benny adds, “PaySett software developers spend time travelling the world to consult with our clients to insure we are in touch with the real problems our clients experience.”
Strategy to Stay ahead of Competitors
Much like the need for payments to move faster and more cost effectively, PaySett is positioned to deliver their payment solutions at a faster pace with lower costs. Being a more nimble company they can adapt more quickly to the rapidly changing innovations in the payments space. They also are solely focused on this area of the payment space which allows them to develop a deeper knowledge of their client’s business in this area. Banks that choose our company typically tell us they do so because they feel PaySett understands their internal operations better than other providers.