IBS Journal July 2018
41
As part of our AI initiative in banking solutions, we bring to use RPA, conversational agents, machine learning, natural language processing, speech (text to speech, speech to text) and vision (image recognition). Apart from this, we provide custom mobility solutions on native and hybrid platforms. Our solutions are enabled to work cross-platform.
What sets you apart from the competition?
Technology innovation with financial domain expertise, agile development and quick delivery are some of the key factors that set us apart. Also, as a leading product company we use robust technology to ensure high-performing solutions, and with the global installation base across 42 countries, we provide localised solutions with global best practices and localised operations. We are neither too big, nor too small and are nimble in our approach to customer engagement led by senior management commitment.
What has been your long-term strategy to win customers?
Innovation-led products and solutions, enablement of latest technologies and IT solutions to drive new business models have been part of our customer-win strategy. Along with this, customer satisfaction is a top priority at InfrasoftTech. Our business goals and strategies are focused on delivering better customer experience and building trust with our customers. Our robust and agile delivery strategies, comprehensive network of innovation to help customers revolutionise their business, 24/7 customer service and transparency in our offerings have resulted in gaining customer trust and satisfaction.
What makes an ideal client/customer for you?
An ideal client is one that desires to digitally enable their enterprise. A client who harnesses our expertise in digital solutions, mobility, cloud enablement, omnichannel solutions and so on, and how we drive efficiency using bots and RPA driven by AI and Big Data analytics.
What are you developing as product/solution releases in the next six months?
We will be launching virtual assistants for our clients to enable digital payments. We recently launched automated reconciliation and are enhancing it to provide reconciliation across omnichannel.
The existing digital enterprise model to be enhanced with a blockchain- based distributed ledger to extend the firm’s outreach and thus reduce additional overheads of reconciliation and related risks.
What does it mean to be featured in the SLT?
We are excited and honoured to be featured in the IBS Sales League Table. Getting nominated and recognised globally as the leader in digital payments and compliance solutions endorses our customers’ trust in us to be their vendor of choice for solution ranging from digital, Core Banking to regtech solutions.
Getting nominated and recognised globally as the leader in digital payments and regtech solutions is a great achievement for us and an opportunity to tap new market and customers.
What are going to be the main technology drivers for you over the next period?
Fintech space is constantly evolving and is driven by changing regulatory mandates and technology trends that will transform banking. For us, Big Data, blockchain and AI will drive cutting-edge transformations in the areas of customer services and compliance.
Open Banking, banking on the cloud-first strategy and banking architecture simplification will be some of the trends that will be qualifiers for future adoption as part of our long-term strategy.
What trends do you think will be the leading ones in the next six months?
The fintech industry is constantly growing and seeing a flurry of innovative technologies. 2018 is the year we will see the culmination of some key technologies – from blockchain and intelligent AI, to design thinking and the cloud.
Trends we see emerging in the fintech space are:
Digital transformation: As customers become more digital, demanding and tech-savvy, legacy bank infrastructure is strained to support new modes of engagement and grow digital efforts significantly.
The frontiers of innovation: AI and blockchain will continue to disrupt the financial services industry.
Design thinking: Augmented reality (AR) and virtual reality (VR) will benefit from developments in immersive UX design aimed at improving the customer experience. The account on-boarding process will see a boost from UX design technologies
The cloud creeping into every corner: Adoption of the cloud in banking will increase, but the focus on security and regulatory compliance will continue to be front and centre.
Regtech: Financial institutions will also start looking at AI to gain meaning from larger and larger volumes of regulatory data. With tougher regulations that demand more transparency in operations, a tech-first approach will become necessary.
How do you feel about the opportunities opening up over the next year?
There will be an increase in the adoption of digital payments and use of virtual assistant and bots, while a wider compliance network will be in demand and drive the industry. This opens up opportunities for AI and ML-based systems to evolve across the front, mid and back- office operations.
www.ibsintelligence.com
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