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The Reserve Bank of India (RBI) reported bank frauds amounting to INR 60,400 Crores in 2021-22. Systemic vulnerabilities put significant pressure on banks to boost security, bolster innovation, and become future-ready.
By actively modernizing Core Banking Systems (CBS) with the security features below.
Deploying an Aadhaar vault-ready infra that masks the user’s Aadhaar number with a token.
Using KAFKA technology enabled real-time fraud analytics to identify and mitigate risks.
Implementing one-way hash algorithm and switch level/API-level encryption to secure critical functions from malware and cyberattacks.
Integrating blockchain technology in CBS to enhance future-readiness
By implementing the above measures, banks can develop a secure and conducive environment for strategic partnerships that can offer maximum value to all stakeholders.
Global Core Banking Software Market Size
In this edition of FinTalk, we feature our Core Banking System product M2P Turing CBS.
Turing CBS is built on the latest micro-services architecture with low code and an API first, cloud agnostic platform making it a modern and futuristic core banking system.
Speed of innovation (AI and ML)
Flexibility (low code capabilities)
Agility (hyper-personalized products)
Customer-centric & pre-integrated with FRM engine
Strategy to Reorient Neobanking for Sustained Profitability
API -The Power that Drives New-Age Banking Ecosystems
How is AI Changing the Financial Industry ?
EarlySalary raised $110 Mn from TPG Growth, Norwest Capital.
Ezetap was acquired by Fintech unicorn Razorpay for $150 Mn.
Ecobank announced the fifth edition of Ecobank Fintech challenge. Overall cash prize up to $50,000.
Global Fintech Fest (GFF) 2022, to be inaugurated by the Union Minister of Finance and Corporate Affairs.
Sriram KS, our Head of Engineering spoke at the ETCIO Virtual Boardroom Session on ‘Outpacing the Change – Drive Innovation at scale with Multi Cloud’.
IndusInd Bank partners with M2P to offer digital-first and digital-only products.
Madhusudanan R, our co-founder, participated in the BFSI Game Changer Summit and spoke on – ‘Financial Services Tech at its Cloud Moment.’
That's it for now. See you again soon with all the need-to-know fintech updates!
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