Company: RedCompass Labs
CEO: Tom Hewson
Website: https://www.redcompasslabs.com
About RedCompass Labs
Payments modernisation is now a strategic imperative, yet deep payments expertise remains scarce, programmes are increasingly complex, and delivery teams remain dependent on small numbers of senior specialists whose knowledge is difficult to replace.
RedCompass Labs is a leading payments modernisation specialist, delivering complex transformation programmes across instant payments, platform migrations and Open Banking for the world’s largest banks. With more than twenty years at the centre of the world’s most complex payments modernisation programmes, the firm has delivered over 500 projects and built deep expertise across ISO 20022-based payments, instant payments, cross-border payments and payments interoperability.
Using Applied AI, micro-services technology and deep payments knowledge, RedCompass Labs is pioneering a new model for modernisation that helps banks address this structural delivery challenge and, in 2024, began developing the Payments Expert Agent.
This is a domain-specific AI agent supporting payments modernisation across the full software development lifecycle. Unlike generic AI tools, it combines two decades of payments expertise, distilled from 30,000+ curated scheme rulebooks, system documentation and proprietary delivery knowledge, with agentic AI skills that write requirements, produce functional designs, generate test scenarios, analyse code and surface defects.
The Payments Expert Agent directly addresses the delivery challenge facing banks by accelerating the work of BAs, system analysts, QAs and developers while preserving knowledge and improving quality. Its multiple skill sets include BA Skills for requirements and documentation, System Analyst Skills for functional design and impact analysis, QA Skills for test generation and 3x3cution, Developer Skills for code analysis and defect resolution, and Technical Architect Skills for solution design and architecture validation.
In a recent engagement with a tier-one European bank, the Payment Expert Agent was used to produce detailed Verification of Payee business scenarios when no business analysts or product owners were available. Traditionally, this would require 10 to 14 business days of focused effort from a highly experienced payments analyst. Using the Payments Expert Agent, 47 business-level requirements and scenarios were produced in 45 minutes, tailored to the bank’s specific systems and processes. RedCompass Labs’ human experts reviewed and refined the output in under two hours, and the bank accepted the scenarios without changes.
Today, the Payments Expert Agent is production-ready and deployed with clients on both the bank side and the vendor side. It is operational with payments vendors, delivering automated test case generation for product and client implementations, and is also being used for AI-driven defect investigation and root cause analysis against system codebases.
The solution does not replace people but amplifies their expertise. Payments teams retain full control, oversight and sign-off authority, while the agent handles work that is time-consuming, repetitive and dependent on knowledge that is difficult to find and easy to lose.
By combining AI with two decades of specialist payments expertise, RedCompass Labs is helping banks modernise faster, reduce dependency on scarce specialist resources and preserve critical institutional knowledge across large-scale transformation programmes.
The Payments Expert Agent was initially founded as AnalystAccelerator.ai in 2024.
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