Transform Core Systems
Modernizing your core systems through payment transformation, Core transformation, and robust data and cash-flow forecasting can propel your organization to new heights of efficiency and competitiveness. By adopting these innovative approaches, you can streamline operations, enhance transaction processes, and make informed financial decisions, ultimately driving profitability and positioning your business for long-term success. Here’s how we help our customers:
i) Modular Architecture: By adopting a modular, component-based architecture for your core systems, we can help you easily swap out or upgrade individual components without disrupting the entire system. This increases your flexibility and reduces the cost and complexity of maintenance, allowing you to adapt quickly to changing business requirements.
ii) Intelligent Process Automation (IPA): We combine RPA, AI, and machine learning to automate complex, knowledge-intensive processes within your core systems. By applying IPA to tasks such as credit underwriting, customer onboarding, and claims processing, we can help you improve efficiency, reduce errors, and enhance the customer experience.
iii) Low-Code/No-Code Development: Our low-code and no-code platforms empower your business users and citizen developers to quickly build and deploy new applications and services on top of your core systems, accelerating innovation and time-to-market.
iv)Embedded Finance: We can modernize your core systems with open APIs, enabling you to embed financial services directly into the digital experiences of your customers, such as e-commerce platforms or enterprise software. This allows you to expand your reach and capabilities.
v)Ecosystem Collaboration: Our open core architectures and APIs facilitate seamless collaboration with fintech firms, neobanks, and other ecosystem players. Together, we can co-create new products and services, leveraging complementary capabilities to stay ahead of the competition.
vi)Continuous Innovation: We can help you adopt a more agile, iterative approach to core system modernization, allowing you to continuously innovate and adapt to changing market conditions and customer needs. This includes implementing DevOps practices, embracing a test-and-learn mindset, and regularly gathering customer feedback to inform ongoing improvements.
Modernized Core System
Modernizing a core lending system is a strategic initiative that aims to transform the existing system into a more flexible, scalable, and efficient platform. This process involves a comprehensive assessment of the current system. We develop a comprehensive modernization strategy that aligns with the organization's goals and objectives. This involves:
i) Modular, API-driven Architecture: A modular, API-driven architecture is essential for enabling flexibility and scalability in a core lending system. By breaking down the system into smaller, interconnected modules, you can easily add, modify, or remove functionalities without disrupting the entire system. Our APIs serve as the communication layer between these modules, allowing for seamless integration and data exchange.
ii) Cloud-native Technologies: Leveraging cloud-native technologies is crucial for improving performance and cost-efficiency in a modernized core system. Our Cloud platforms offer scalable computing resources, automatic updates, and reduced maintenance overhead. By adopting to our cloud-native technologies, you can benefit from increased availability, reduced infrastructure costs, and the ability to quickly adapt to changing business requirements.
iii) Microservices: Implementing microservices is a key strategy for breaking down monolithic systems into smaller, manageable components. Microservices are independent, loosely coupled services that focus on specific business capabilities. By adopting a microservices architecture, you can achieve faster development cycles, improved scalability, and easier maintenance of the core system. Each microservice can be developed, deployed, and scaled independently, allowing for greater flexibility and agility in responding to market demands.
Transformed Payments
Streamline and optimize payment processing with modern, flexible, and secure solutions. This is how we help our customers enhance the customer experience and drive revenue growth:
- Embedded Lending: We integrate lending capabilities directly into your existing digital ecosystem, such as e-commerce platforms or business management software. This seamless access to credit at the point of need enhances convenience and boosts conversion rates.
- Instant Disbursements: By leveraging real-time payment rails, we disburse loan funds instantly upon approval. This provides immediate access to capital, enhancing customer experience and increasing our competitiveness.
- Automated Collections: Our services include automating recurring payments through direct debit mandates or standing instructions. Using AI-powered tools, we predict and proactively manage potential defaults, optimizing collections while maintaining positive customer relationships.
- Flexible Repayment Options: We offer flexible repayment options, allowing customers to choose their preferred repayment methods, such as UPI, mobile wallets, or credit cards. Customers can also adjust repayment schedules based on cash flow, enabling better financial management.
- Contextual Lending: By leveraging customer data and transaction history, we provide contextual lending offers at relevant touchpoints. For instance, we might offer a short-term business loan when a merchant's inventory is low or a personal loan when a customer plans a major purchase.
- Embedded Credit Scoring: We integrate credit scoring models directly into the payment flow for instant credit decisions. By using alternative data sources like utility bill payments and mobile top-ups, we assess creditworthiness for underserved segments.
- Programmable Payments: Utilizing blockchain and smart contracts, we enable programmable payments with embedded business logic. This facilitates automated escrow, royalty payments, and other complex financial arrangements.
Intelligent Decisioning
Intelligent decisioning in financial services and lending uses AI and ML for real-time, informed decisions, enhancing credit scoring, risk assessment, fraud detection, product personalization, loan underwriting, pricing models, operational efficiency, and regulatory compliance. This technology is vital for competitiveness, customer experience, and industry growth. We help our clients with the following:
- Leveraging Advanced Automation and Data Analytics: We leverage advanced automation and data analytics to streamline the underwriting process. By deploying sophisticated algorithms and AI-powered decision-making, we quickly analyze borrower data, assess risk profiles, and make more accurate and informed lending decisions. This leads to faster approval times, higher approval rates, and reduced delinquencies.
- Integrating Real-Time Decisioning Capabilities: We integrate real-time decisioning capabilities to deliver a seamless, frictionless borrowing experience. Millennials and Gen Z customers expect instant, digital-first lending processes from start to finish. Automating decision-making at various touchpoints provides rapid responses and minimizes manual intervention.
- Establishing a Centralized, Collaborative Environment: We establish a centralized, collaborative environment for managing business rules, analytical models, and decision workflows. This allows you to easily build, test, and deploy decision logic across the organization, with robust governance and version control. It also enables cross-functional teams to work together more effectively.
- Leveraging Cloud-Native and Scalable Platforms: We leverage the power of cloud-native, scalable platforms to handle high data and decision volumes. Cloud-based intelligent decisioning solutions provide the flexibility, performance, and security required to support transformative lending initiatives.
- Embedding Intelligent Decisioning within Digital Banking Workflows: We explore opportunities to embed intelligent decisioning within broader digital banking platforms and workflows. Integrating decisioning capabilities with tools helps you deliver more personalized, AI-driven experiences for customers.
Data-Driven Financial Prediction
Infuse connectivity and intelligence into your products with a contemporary edge-to-cloud architecture for launching new features and business models.