The Fintech industry is constantly evolving with innovations and technologies coming up often. Though many concepts are built on fundamental fintech ideas, the terms and jargon related to fintech are rapidly diversifying.  Whether you are new to fintech or someone who wants to be updated on the latest buzzwords, we have got you covered.  1. Aadhaar-enabled Payment Service (AePS)  AePS, in India, enables individuals to conduct basic banking transactions like deposits, withdrawals, balance inquiries, bill payments, etc., without requiring a traditional bank account or debit card ..read more

  Welcome to our latest blog, where we dive into the critical security technique known as SSL Pinning. This method plays a pivotal role in thwarting eavesdropping attacks on the communication between an app and its server.  SSL Pinning involves a process where, after the initial exchange of encryption keys, the app verifies the validity of the server’s certificate. It achieves this by maintaining a list of trusted certificates on the device itself, which are then compared to the server’s certificate in real time as the app operates.  If there is a discrepancy, indicating that th ..read more

The significance of modern Core Banking Systems (CBS) cannot be overstated. Financial Institutions (FI) are substantially investing in upgrading their historical CBS in order to make banking services more accessible, flexible, customizable, and scalable.  Nevertheless, how can FIs ensure that the modern Core Banking System is utilized to its full potential?   The FIs should assure that their teams who use core systems, viz., customer interaction and support, finance, and product development, comprehend the key concepts of CBS and its modules.  Modules in Core Banking Syste ..read more

Cybersecurity threats are on the rise. More than 6 million data records were exposed worldwide through data breaches and the average cost of a breach reached $ 6.41 million during last year.  Among all the compromised data types, Personally Identifiable Information (PII) is considered the costliest and most vulnerable.  Data Masking via Vision Framework  To protect sensitive data on identity documents such as PAN and Aadhaar, businesses are resorting to Data Masking. It acts like an invisibility cloak, concealing sensitive information from cybercriminals/hackers while allowing ..read more

The co-branded credit card market is witnessing a meteoric rise. Valued at $12.34 billion last year, the market is projected to skyrocket at 9.61% to reach $25.72 billion by 2030. The surge is driven by the potential of co-branded credit cards to deliver innovative solutions, unlock new markets, and strengthen customer relationships. Banks and fintechs collaborate strategically with distribution partners/brands to roll out co-branded credit cards. These partnerships give banks the leeway to focus on customer acquisition, retention, and experience while fintechs take care of the credit card is ..read more

Core Banking Solution (CBS) promises a transformative leap for banks. It ensures banking functions are fully digital and compliant with modern banking standards. Challenges in CBS Implementation While modern core banking marked the dawn of a new era in banking excellence, the implementation and integration processes come with their own set of challenges (discussed below). Migrating from Legacy Systems Transitioning from legacy to modern core banking platforms is a complex task. The process of transferring customer data, transaction history, and other data without disruption requires meticulou ..read more

Efficient communication between components is crucial for the overall performance and responsiveness of a system in a microservices architecture. But how can you achieve optimal communication between the components? Dive into this blog as Maathavan Vinayak, our Engineering Director, guides you through the ways to achieve faster communication between inter-components in a microservices architecture to improve overall agility and efficiency. Communication becomes the linchpin for seamless operations in a microservices architecture. The figure below depicts the intricacy of communication within ..read more

Learning from mistakes is an essential part of engineering practice. Mistakes can lead to significant milestones that transform design, process, and overall outcome. To know how, read this blog. Our Engineering Director, Maathavan Vinayak, takes you through proven strategies that normalize mistakes and transform them into catalysts for continuous learning and improvement. Create a Culture of Openness Encourage engineers to report and discuss mistakes without fear of judgment or blame. Foster an environment where team members feel comfortable admitting errors and sharing their learnings. Esta ..read more

Modern core banking solutions are every banker’s secret sauce. Irrespective of whether the banks are traditional or new-age, robust core banking systems are imperative to operational efficiency, customer experience, compliance, and security. Globally, the core banking solutions market is valued at over $14 Bn. And in India, the market is projected to grow at around 16% CAGR to reach $1510.92 Mn by 2028. What is a Core Banking Core Banking Solution (CBS) is the technological engine that drives the modern banking experience. It shapes the way banks operate and deliver value. CBS deploys a core ..read more

Picture this. It’s a cozy Saturday night, and you decide to treat your family to a delightful dinner at a renowned fine-dining restaurant. However, you arrive to find the place fully booked, with no available tables. Undeterred, you jot down your name and phone number on their waitlist. The receptionist, in this case, becomes the intermediary, assuring you that they’ll give you a call as soon as a table becomes available. In the digital realm, webhooks operate in a similar fashion. One system subscribes to monitoring specific events, just like you put your name on the waitlist. When that even ..read more