At Money 20/20, Zafin announced its miRevenue platform is now available as a cloud-based SaaS offering, Zafin Cloud, for Retail Banks in North America.
For years, the miRevenue platform has brought value to its global banking clients through revenue enhancement, risk mitigation, and reduced time-to-market for retail and wholesale line of businesses within banks. Banks may now benefit from simpler, faster implementations via Zafin Cloud which is powered by Microsoft Azure.
“Zafin Cloud addresses our clients’ need to move swiftly along their digital journey,” said Adam Nanjee SVP, Digital Banking at Zafin. “We are already a trusted partner to many of the world’s largest banks. Now, with Zafin Cloud launching with several North American banks, we are uniquely positioned to serve the entire banking landscape in North America from regional, to super regional to Tier-1 banks. As our first SaaS platform, Zafin Cloud is built to provide secure, scalable out-of-the-box functionality, empowering banks to bring financial products and offers to market faster.”
Moving to Microsoft Azure, Zafin makes its powerful financial technology platform more accessible to a wide range of North American banks. The move empowers banking clients with a scalable engine, insights-driven client analytics, and prescriptive modeling. Retail banks will benefit from Zafin Cloud features including: product bundling, multi-product conditional offers, relationship pricing, lending & deposits pricing, and a real-time predictive analytics platform for next-best offers driven by machine learning. The platform is designed for expedited integration using its standard open APIs, interface patterns and support from certified global system integrators.
“Microsoft Azure provides Zafin with a secure, scalable infrastructure as well as meeting regulatory and compliance needs for banks and other financial services companies,” said Jason Brommet, Director, Partner Strategy and GTM at Microsoft Canada. "The Zafin Cloud platform will allow Zafin to rapidly expand its footprint in the North American retail banking sector, and with Azure as its foundation, will scale and grow with increasing digital client demands."
Traditionally, financial technology has been centered around software deployments on premises, which can be a costly and time-consuming investment. With Zafin Cloud, banks can receive the additional benefits and security that they’ve recognized from miRevenue, without the costly burden on IT infrastructure. Commercially, the SaaS model creates a number of benefits and efficiencies for banks, most notably is an accelerated integration, streamlined expenditure, and go-live execution within months.
“Zafin Cloud is a secure processing option that meets the needs of retail banks and provides a well-structured way to rapidly onboard them into the platform,” said Andrew McCue, Chief Technology Officer at Zafin. “Naturally, this will expedite time-to-value – a crucial metric for our banking clients.”
The new platform builds upon industry-vetted technology and is launching today having been already been trusted and deployed in multiple banking environments including several Tier-1 North American and global banks. Zafin Cloud helps these partners to create efficiencies, reduce time-to-value for retail banking products, enhance revenue and incentivize desired client behaviour.
“We have built Zafin Cloud with a multi-layered prescriptive architecture leveraging on a range of modern innovative technologies and focused on a containerized approach,” said Varghese Cottagiri, Chief Enterprise Architect at Zafin. “Utilized by several North American banks, Zafin Cloud provides financial institutions with security, high availability, rapid deployment and scalability”
With a compelling and complete portfolio of solutions, Zafin is helping banks address digital transformation challenges and meet the growing client demand to move banking experiences online and become more client-centric.
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