“While the transfer to digital funds predates Covid 19, the pandemic has accelerated banks’ digitization efforts,” he mentioned. “Totally different banks are at various levels of maturity and alternatives exist throughout the fee spectrum – pay as you go playing cards, omni-channel buying (on-line, and contactless funds), risk-based buyer authentication, fee analytics, reconciliation and digital safety.”
Owing to the demand upside for digital fee merchandise, he mentioned the corporate has not needed to revise its gross sales targets. He mentioned the corporate’s broad portfolio of fee merchandise, diversified geographic progress and versatile industrial mannequin helped to stay resilient.
“Nonetheless, there’s a shift in deployment patterns. Clients are more and more choosing SaaS-based enterprise fashions reminiscent of these provided by FSSNeT to enhance income progress. This can have a medium-term impression on the income mixture of the corporate,” Nagaraj mentioned. “FSS has been clocking an above trade common progress charge and is well-positioned to attain double digit progress this yr.”
In keeping with the corporate’s progress plans, he mentioned the main target would proceed to be enlargement in India whereas additionally rising within the Center East, Africa, Europe. He added that the corporate lately signed a multi-year cope with Everlink, a big fee processor in Canada, for its Unified Card Administration Platform.
He mentioned the corporate’s subsequent massive launch was going to be round analytics and knowledge science and might be designed to deal with the Massive Knowledge alternative within the funds area.
“The product is an entire persona-based analytics suite that comes with predefined insights by enterprise product areas, the matrix retains rising and can quickly map the complete fee ecosystem. The product helps banks to make data-driven enterprise choices, improve productiveness and enterprise effectivity,” Nagaraj mentioned.