Financial Services
From online banking to data analytics, Information Technology has transformed the way financial services are delivered and managed, resulting in greater efficiency, significantly reduced costs and better competitiveness.
Online and mobile banking platforms have improved accessibility and offer greater convenience to customers, allowing them to access their account information, transfer funds, pay bills, and perform a host of other transactions on the go. Vaisesika transforms core banking services with our industry-leading solutions. Our experienced web and mobile app developers help banks to better interact with customers and to fulfil their needs across the financial transactions chain.
Data management is another key service that Vaisesika provides to the financial services sector. Data management includes using BI tools to analyze transaction data and track customer behavior, as well as to assess financial performance and other KPIs This enables banks to identify trends and patterns and to streamline operations. The ability to effectively manage this data also helps financial institutions to make informed decisions, comply with regulations, and identify potentially fraudulent transactions.
Vaisesika also has expertise with new age technologies such as blockchain which can be used to record transactions across multiple systems in a secure, transparent, and tamper-proof manner
This will eliminate the need for intermediaries and reduce the risk of fraud while significantly improving the efficiency and security of financial transactions.
A major concern that financial institutions have making sure that customer data is protected from unauthorized access and breaches. Vaisesika ensures data security and privacy with the use of encryption, firewalls, and other security and compliance technologies.
Legacy modernization is another area where Vaisesika can support financial services sector. Some financial institutions are still straddled with systems that are antiquated and expensive to maintain. The core systems would have undergone so many changes over the years that the source code itself would have become virtually obscure. Legacy modernization is imperative for such institutions to stay competitive. Modernization will involve migration of large volumes of data and complex business rules to new systems. Vaisesika has significant experience in defining migration strategies so as to avoid pitfalls that often derail modernization initiatives. Vaisesika can help financial institutions to transition seamlessly from legacy systems to new enterprise systems or custom applications at competitive costs.
Software development is another service that Vaisesika offers to companies in the Banking and Finance vertical. Financial institutions rely on a wide range of software applications to conduct their business, such as banking systems, trading platforms, and risk management systems. Vaisesika can help financial institutions to develop, customize, and maintain these software applications to ensure they meet the specific needs of the institution. Vaisesika also provides consulting to financial institutions, helping them to identify areas where they need to improve their technology stack or processes for enhanced efficiency.
Compliance and risk management are other areas where Vaisesika can help financial institutions. Using technologies such as Artificial Intelligence and Machine Learning, Vaisesika can help identify potential risks and flag potential compliance violations.
This helps financial institutions to reduce their exposure to risk.
