Cashless Transactions in India Set to Boom over th...
The proportion of cashless transactions varies widely across the globe with some countries, like India, still considered...
Continue ReadingFrom payment to ATM managed services and self-serviced kiosks, our solutions are designed and developed to deliver optimized solutions and achieve enhanced process efficiency.
Open API banking is a powerful tool for enabling innovation and competition in the financial services industry. Maximus recognizes the potential of open banking and offers a sandbox platform to NBFCs and fintech companies for various payment use cases. This platform provides access to test APIs, allowing these entities to develop and test their solutions before moving into the production environment.
APIs could range from card creation requests to blocking, or specific to IMPS, UPI and AePS transactions.
The typical stages for NBFCs and fintech companies to access the APIs:
Machine learning is the part of AI which can be used for gaining additional insights, reducing time processing, pattern recognition of transactions, ATM / Recycler health data, to prevent frauds and flagging transaction anomalies, predicting customer card behaviour, reducing false debit and credit card declines etc.
Maximus uses RPA to reduce the manual efforts involved in the processes where there is manual intervention, this can be applied to many use cases like transaction and cash reconciliation processes, or emailing of reports etc.
API Manager acts like a gateway between Maximus Systems and partners / aggregator systems, who require access to APIs and use the sandbox infrastructure to test their programs. API manager ensures the required controls ensuring a secure and automated system for accessing the API environment with parameters like time period access, APIs, the frequency and tokens.
BI software performs different activities like data mining, process analysis, generates performance reports and provide intelligent analytics in terms of payment transactional data, ATM / CRM health monitoring, fraud analytics etc. This would help banks, fintech companies and aggregators to get the insights for providing better services to their customers and take action wherever required.
We use blockchain technology to improve the security and transparency of transactions, particularly for cross-border payments and trade finance. Blockchain can also help banks reduce fraud and errors, streamline settlement processes, and reduce costs.
Led by a team of expert professionals with decades of industry experience, our hunger for excellence in consistently developing pioneering, value-oriented solutions, has pushed us to be industry leaders.
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