Bangalore, November 15th, 2019: Zeta today unveiled Fusion – an API-based platform-as-a-service (PaaS) offering for fintechs. Fusion provides all the key infrastructure that a fintech may require to build financial or payment products – in one place.
With Fusion, fintechs can instantly access a pre-integrated banking ecosystem which includes access to banks, card networks and manufacturers, payment networks and many more such services that are critical to build financial products. With an IndiaStack focus, Fusion also offers compliance with RBI norms and data security standards, enabling fintechs to quickly build products such as wallets, forex cards, savings accounts and more.
Bhavin Turakhia, Co-founder and CEO, Zeta, said, “The banking ecosystem is fairly complex and building a compliant and secure financial product can be quite time-consuming. But with Fusion, fintechs have the advantage to build their products on a bank-compliant and versatile platform that not only enables them to build whatever they want, but also build and launch significantly faster.”
The platform also offers a modern card issuance solution and complete flexibility to define, control and manage their programmes. It enables fintechs to join their payment journey by providing the ability to verify and control transactions as they happen. With added benefits like Just-in-time Funding, state-of-the-art security, and over 15 powerful tools which give real time access to various kinds of data and business operations capabilities, fintechs can build, expand and improve their financial offerings.
“Zeta’s Fusion platform is the first of its kind in the world,” said Ramki Gaddipati, Co-founder and CTO, Zeta. “As a universal issuance platform, Fusion unifies the core banking services like Savings, Current, and loan accounts provisioning and management with the most modern payment switch and payment instrument issuance platform, in a seamless API-first, event-driven technology stack that is accessible as a cloud service,” he added
Zeta® is in the business of providing a full stack, cloud native, API first neo-banking platform including a digital core and a payment engine for issuance of credit, debit and prepaid products that enable legacy banks and new age fintech institutions to launch modern retail and corporate fintech products. Co-founded by Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO), Zeta currently provides its platform and products to BFSI issuers in India, Asia and LATAM. Zeta’s products are used by banks like RBL Bank, IDFC First Bank and Kotak Mahindra Bank, 14000 corporates and over 2 million users. Zeta is a SOC 2, ISO 27001, ISO 9008, PCI DSS certified company. Zeta has over 450 employees and clocks over 1 million transactions per day.