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FSS Technologies says it is well-positioned to achieve double digit growth this year

Chennai: Whereas plenty of industries have seen a downturn for the reason that onset of the pandemic, the digital funds area has seen elevated adoption. Nagaraj V Mylandla, Founder, Chairman & Managing Director of Chennai-based FSS Technologies stated the corporate with its area experience and built-in portfolio of payments products was well-positioned to change into the fintech companion for banks for digital transformation and development.

“While the transfer to digital funds predates Covid 19, the pandemic has accelerated banks’ digitization efforts,” he stated. “Completely different banks are at various phases of maturity and alternatives exist throughout the fee spectrum – pay as you go playing cards, omni-channel buying (on-line, and contactless funds), risk-based buyer authentication, fee analytics, reconciliation and digital safety.”

Owing to the demand upside for digital fee merchandise, he stated the corporate has not needed to revise its gross sales targets. He stated the corporate’s broad portfolio of fee merchandise, diversified geographic development and versatile industrial mannequin helped to stay resilient.

“Nonetheless, there’s a shift in deployment patterns. Prospects are more and more choosing SaaS-based enterprise fashions similar to these supplied by FSSNeT to enhance income development. This may have a medium-term impression on the income mixture of the corporate,” Nagaraj stated. “FSS has been clocking an above trade common development fee and is well-positioned to realize double digit development this yr.”

According to the corporate’s development plans, he stated the main focus would proceed to be enlargement in India whereas additionally rising within the Center East, Africa, Europe. He added that the corporate lately signed a multi-year take care of Everlink, a big fee processor in Canada, for its Unified Card Management Platform.

He stated the corporate’s subsequent huge launch was going to be round analytics and knowledge science and will probably be designed to deal with the Massive Knowledge alternative within the funds area.

“The product is an entire persona-based analytics suite that comes with predefined insights by enterprise product areas, the matrix retains rising and can quickly map your entire fee ecosystem. The product helps banks to make data-driven enterprise selections, improve productiveness and enterprise effectivity,” Nagaraj stated.

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