Given the emergence of new business models and the advancements in technology, the financial services industry has undergone immense changes in recent years.

With a long-standing reputation in the digital payments space, Opus is helping key financial services players stay on top of their game. Praveen TM, the CEO of Opus, shares why digital transformation is inescapable against the backdrop of a slow-moving economy. He shares how Opus utilizes an arsenal of technology to manage mission-critical services and build trust with long-term customers, including Fortune 500 companies.

Question 1: The next decade of payments promises to be even more transformational. What role will Opus play in driving the industry forward?

The payments landscape is a dynamic and complex one. In the past two years, the acceleration in innovation has redefined the ever-evolving landscape, pushing payments beyond a purchasing function. Today, payments connect people, devices, and avatars across physical, digital, and virtual worlds. With rapid digitization transforming all aspects of our lives, I believe the best is yet to come. It’s safe to say that payments are now on the cusp of an even greater revolution.

The limitations of legacy cores, highly competitive marketplaces, and shifting customer expectations are some of the main forces that are driving traditional financial institutions to invest in payments digital transformation. Looking toward the future, digital transformation will continue to be the top priority for organizations that are seeking to unlock lasting success in payments. At Opus, we take an integrated and thematic approach to helping our clients with the modernization of legacy payments rails. As a trusted payments advisor to leading financial institutions and new-age FinTechs, our holistic payments modernization approach digitizes the end-to-end payments value chain, helping our clients build orchestrated payment capabilities. Our global team comes with unmatched domain expertise that is critical in ​​accelerating the modernization of payments solutions and enabling key industry players to fully participate in the open banking ecosystem of the future.

Question 2: With the current global economic turmoil, how are you helping clients thrive in the age of disruption?

Only organizations with digital agility can stay relevant in today’s global economy. To navigate the challenges stemming from the current economic downturn, decision-makers need to do more with less. Backed by over 25 years of payments and FinTech expertise, we have a proven history of successfully managing and executing large-scale transformations of monolithic architecture within demanding timelines for some of the biggest names in the industry. We’re helping organizations build, modify, and diversify their portfolio of offerings with our cost-effective solutions. We also have an impeccable track record of enabling organizations to streamline their IT stack and optimize critical processes with DevOps and low-code platforms.

To deliver accelerated value and savings to our clients, we have restructured our strategies to take on a more customer-centric approach. At a time when organizations are scrambling for the right solutions that will help them remain agile, we are empowering IT teams to reduce the time to value and maximize return on investments. We’re also enabling organizations to adhere to strict budgetary and security guidelines with our DevSecOps transformation initiatives. Opus is well poised to help clients drive exponential growth, tide over the economic flux, and compete in today’s digital marketplace.

Question 3: With customers today demanding near-instant experiences, how do you see the financial services space evolving in the coming years?

We are moving on to a more human-centered future of financial services. As customers become more sophisticated, the financial services industry has a unique opportunity to cater to new markets. Forward-thinking firms can look at establishing a financial layer in the technology stack and as a result, embed financial services into other customer-centric businesses.

Driven by the rise of direct-to-consumer marketplaces, contextual commerce, and the Internet of Things, payments now have a crucial role to play in driving the digital world forward. With digital transactions offering greater ease and speed in delivery, we see more people interested in adapting to alternative forms of digital payment mechanisms. As FinTechs continue to undergo a phase of hyper-growth, banks on their part, are looking to deploy and upgrade solutions flexibly as per their shifting business priorities.

Question 4: How can banks better prepare for industry-driven change?

While banks are in the midst of a challenging macroeconomic environment, they also need to cope with heightened expectations in an increasingly digital world. Opus is at the forefront of modernizing legacy systems and delivering transformative modern banking solutions. Our cloud-native suite of core banking, digital banking, and corporate banking solutions are helping financial institutions innovate and drive digital transformation at speed and scale. We are enabling well-established financial institutions to unlock new possibilities and go to market faster with our future-ready digital services. Our global best practices and DevOps toolchain, help banks bring innovations to life and enrich the financial lives of their customers.

Question 5: As the world’s leading payment solution provider, what’s next for Opus?

We have developed a robust strategy for building technology capabilities and AI-first value propositions. We are also expanding our workforce to meet the rising demand for modernization and digital transformation initiatives. We are actively hiring and looking to grow our workforce by 40-60% in the coming months.

Now, more than ever, hyper-personalization is being embedded into the financial services experience. To stay ahead of the race, we are also innovating our services, broadening our digital capabilities, and sharpening our expertise to help our clients adjust to new realities and reinvent themselves to achieve market leadership in the digital world.

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