Comviva Launches New Digital Banking Platform

Comviva Launches New Digital Banking Platform
Discover how Comviva's new Low-Code/No-Code platform can transform digital banking, enhance customer experience, and streamline payment services.

Comviva, a prominent provider in customer experience and data monetization solutions, has introduced a new Low-Code/No-Code platform aimed at enhancing digital banking and payment services. The platform is designed to assist financial institutions like banks, fintechs, and digital wallet providers in rapidly adapting to changing market conditions, regulations, and consumer needs.

Key Highlights:

  • The platform enables quick customization and automation of workflows.
  • It integrates easily with third-party systems and supports rapid deployment of new features.
  • Expected to reduce deployment times by 30%-40% and lower development costs.

Enhancing Digital Finance Operations

The new platform is built on Comviva’s existing mobiquity® infrastructure and is intended to facilitate the easy construction of user journeys and workflows through visual tools. This will allow institutions to launch new features swiftly, greatly reducing time-to-market and enhancing operational efficiency.

Srinivas Nidugondi, EVP and COO of Digital Financial Solutions at Comviva, emphasized the platform’s capacity to meet the burgeoning demands of the modern financial landscape. He noted, “Our new Low-Code/No-Code Platform is set to redefine service design and deployment across the banking and digital wallet sectors. It simplifies the development cycle, boosting productivity and speeding up innovation.”

Platform Capabilities and Impact

The platform’s notable features include the Service Flow Composer, Channel Composer, and Integration Flow Composer. These tools are designed to be user-friendly, enabling individuals with varied technical skills to create or modify services and integrate with third-party systems effortlessly.

With more than 90 deployments worldwide, Comviva’s mobiquity platform processes over USD 250 billion annually, supporting a wide range of financial transactions from digital onboarding to merchant services. The platform is crucial for extending financial services to various user groups, including those traditionally underserved by the banking sector.

This development is poised to make significant waves in the digital payments landscape, offering substantial benefits in terms of cost, efficiency, and user engagement.

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Lakshmi Narayanan

Lakshmi has a knack for diving deep into the world of technology and extracting stories that resonate with our readers. Her articles often explore the broader implications of tech advancements on society and culture.

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