Financial institutions across the board are facing unprecedented challenges in terms of digital economies, customer demands and regulatory and compliance changes. Banks and financial institutions are moving ahead with digital solutions to keep ahead of the disruption curve. But the World Payments Report, 2017 warn that banking organizations are not uniformly successful in implementing digital payment initiatives.
Also, payment modernization solutions sometimes fall short of expectations. According to the Standish Group Report the budget for large majority of solutions skyrocket to 50% more than the estimate. The time lag between implementations creates a delivery vacuum where in the market needs move ahead. This impedes the ability of the organization to respond and remain ahead of the disruption curve.
The moot question is how some organizations are more successful in modernizing their payment infrastructure? An in-depth study often reveals teh disconnect with market requirements, technolog
Evolvus has over 11 years of deep domain experience in delivering Payment modernization solutions. We understand the complexities of the incumbent payment environment and design niche solutions that is rooted in delivering business value. In 2010, Evolvus debuted, Flux Payment Modernization solution. Today our niche payment solutions have over 12+ tier-1 banking clients. Our successful payment modernization programs can deliver immense benefits for all in terms of
- Cost savings in payment processing
- Seamless customer experience
- Straight through processing
- Better security and safety
- Faster go-to-market and innovation
- Agility to respond to market disruption
Our niche products can be deployed on premise or over the cloud. We are moving ahead with pay-as-you-go models to bring down the TCO and infrastructure costs. This enables small and medium sized organizations and Startups to leverage the transformative impact of digital payments. Moreover, Evolvus payment experts with a cumulative experience of 25+ years in developing digital payment solutions have successfully implemented our products across India and the Middle East. Our expertise ranges from data engineering, core banking transformation, payment solutions like RTP, SWIFT, RTGS and more.
Over the years, Evolvus has deployed over 20 products that fast track digital transformation within banks. The next wave of futuristic innovations from Evolvus introduces Artificial Intelligence, NLP, Machine Learning, and Analytics that will re-define the payment space this decade. This will bring in financial transparency, visibility in workflows and improve customer experience across channels.
Balaji is the co-founder and Chief Executive Officer of Evolvus Solutions Pvt Ltd. He plays a critical role in anchoring strategic priorities for the company to gain leadership position in the payments domain.