After the great recession 2008, many mega corporations shut down in the US. Banks were the worst hit, and due to its impact, many companies were forced to opt for mergers and acquisitions for survival. In India post demonetization, banks saw unprecedented workflow. Other than this is the continuous threat of malware asking even Wipro CEO to shell out cash. Cyber security to cards and payments is a serious issue, and Astrix has genuine concerns to calm the worries of relevant stakeholders.
Today, we see many banking institutions in India going for mergers. For example, Kotak Mahindra merged with ING Vysya in 2015. Union Government proactive digital policies resulted in the merger of SBH with parent bank SBI. The government is also planning to sell a few nationalized banks also. All these will result in data merger, data transfer, ensuring cards and payment security without a security breach. Yes, existing risks and emerging risks call for an additional layer of security to cards and payments. At Astrix Techno Solution, we have comprehensive as well as tailored IT solutions for cards and payment businesses.
Cards and Payments Stakeholders, You Need:
Electronic Bill Presentment and Payment (EBPP)
Electronic Invoice Presentment and Payment (EIPP).
Secondly, have you thought about modernizing of payment mechanisms and ATMs? Are you mulling Switch and Payment Gateway Integration? If you want to create delightful transaction experience, it is important that you should avail the services of experienced IT team like Astrix.
Look At the Challenges At Present
Data Management for E-Commerce and M-commerce
Handling anti-fraud payments
Creating multichannel and omnichannel experience
Dealing with cryptocurrencies
Banks, you need to optimize data management to be with customers’ evolving requirements. Banking industry should address the security issue mentioned above and win the customers as well as businesses’ trust. Grow with analytics and improve customer value, provide advanced safety features. Help customers with our predictive analytics solutions.
Existing challenges like Run-the-Bank (RTB) costs, owing to the FTE based pricing needs to be addressed with our robust IT solutions. More challenges are in the offing as banks looking towards shutting down their branches in large numbers globally. Avail big data, cloud technology, predictive analytics through our IT solutions. That is the way forward.