BLAZE is designed to meet the growing need for scalability and security among financial institutions
A one-stop, domain-agnostic technology platform to meet end-to-end future banking needs
Chennai, India, August 25, 2023: Financial Software & Systems Pvt. Ltd. (FSS), a globally leading provider of payments technology solutions, has announced the launch of ‘BLAZE’, an advanced payments technology platform designed to meet the diverse needs of banks and financial institutions.
Using BLAZE architecture, for instance, the FSS Payment Gateway can process more than 5,000 transactions per second.
BLAZE is expected to offer significant efficiency gains in terms of speed and scalability, ensure high durability during peak workloads, improve fraud prevention, and enhance services to banks and financial institutions while simplifying choices and bolstering the confidence of end consumers. For example, FSS Payment Gateway, powered by BLAZE, can handle more than 5,000 transactions per second (TPS) to ensure a higher number of successful transactions during peak hours. BLAZE enables banks to deliver higher TPS to align with the growing adoption of digital commerce in the country.
Banks, currently operating on legacy monolithic infrastructures, face numerous challenges, such as the flexibility of enabling quick system integrations, the inability to provide an exceptional customer experience for ease of payments, and ensuring cost efficiency for a lower cost per transaction, among others. BLAZE addresses the core of these challenges. The adoption of BLAZE will also empower financial institutions to roll out innovative payment offerings to market at a much faster speed, enhance their competitive edge, and attract new customers.
V Balasubramanian of FSS said, “BLAZE marks a significant milestone for FSS. It embodies our commitment to innovation and reflects our vision for the future of payments. We have created a payments industry-focused platform which will help banks achieve their digital transformation goals. BLAZE enables banks and financial institutions to deliver novel and innovative payment experiences to their customers. With its scalability, security, and adaptability, this platform is set to pave the way for the next generation of payment technologies.”
BLAZE stands out in the payments industry with its distinctive features. Its commitment to security is evident through its key design principles that adhere to industry standards while safeguarding data and preventing fraudulent activities. BLAZE’s open architecture will facilitate smooth integration with existing systems, fostering interoperability among various payment processes. What also sets BLAZE apart is its real-time data analytics capabilities, which empower businesses to enhance payment processing efficiency and swiftly resolve any payment-related issues.
With this launch, FSS expects to have a substantial impact on the rapidly evolving payments landscape. At present, BLAZE is accessible to customers in select markets such as India, the Middle East, and Africa, and FSS plans to progressively introduce it in additional markets in the upcoming months.
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