Looking for Funding for creating an innovative Payments Hub for the Banking industry.
by PRAKASH SEERNANI
Business Case for our offering
The Problem Banks are facing
• Explosion in volume of electronic transactions.
• Increase in complexity of transactions.
• Increase in statutory compliance.
• Growing adoption of electronic payment mediums by account holders.
• Multiple, rapidly changing, and disparate payment channels.
• Stricter and fast evolving regulatory environment.
• Managing customer expectations.
• Managing technology systems and operational efficiency.
• Managing compliances.
The Solution: The BFSI Payments Hub (called R-Pay) is a multi-module solution to manage payment transactions that allows Banks to:
• Offer seamless and WOW user experience to their account holders/ customers.
• Manage scale and technology with high operational efficiency.
• Remain compliant.
• Account holder/ customer stickiness, more revenue per customer.
• Reduced cost per transaction.
• Risk Mitigation.
• Addressable market size of INR 9000.00 mn.
• Demand driven by various RBI guidelines, stipulations, and mandates.
Achievements till date:
• Bagged 12 customers over past year.
• Close alignment with leading OEMs - IBM, Microsoft, Oracle.
• Market in West India largely mapped at Top level.
• Plans for mapping Rest of India.
• Extension of the Market - Insurance & Financial Services companies.
• Extension of the Market - Banks in A-PAC region year-3 onward.
• Extension of Solution - Managing non-payment transactions.
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