By Modupe Gbadeyanka
A future-ready payments platform designed to meet the end-to-end future banking needs has been introduced by Financial Software and Systems Limited.
The initiative known as BLAZE will help banks in India, Africa and the Middle East to meet their growing need for scalability and security, as it would enable them to deliver higher transactions per second (TPS) to align with the growing digital commerce adoption in the country.
A statement from FSS explained that the advanced payments technology platform will offer significant efficiency gains in terms of speed and scalability, ensure high durability during peak workloads, improved fraud prevention, and enhanced services to banks and financial institutions while simplifying choices and bolstering confidence in end consumers.
For example, the FSS Payment Gateway, powered by BLAZE, can handle more than 5,000 TPS to ensure a higher number of successful transactions during peak hours.
The company further stated that BLAZE’s open architecture will facilitate smooth integration with existing systems, fostering interoperability among various payment processes.
It added that what also sets the platform apart is its real-time data analytics capabilities, empowering businesses to enhance payment processing efficiency and swiftly resolve any payment-related issues.
“BLAZE marks a significant milestone for FSS. It embodies our commitment to innovation and reflects our vision for the future of payments.
“We have created a payments industry-focused platform, which will help banks achieve their digital transformation goals.
“BLAZE enables banks and financial institutions to deliver novel and innovative payment experiences to their customers. With its scalability, security, and adaptability, this platform is set to pave the way for the next generation of payment technologies,” V Balasubramanian of FSS said.
