Opus Technologies

💡 How Digital Wallets Propel Legacy Institutions into the 21st Century 💳💰The rise of digital wallets, or e-wallets, is undeniable. With digital wallet penetration reaching a staggering 89%, as reported by McKinsey, and studies from Forbes indicating that a majority of Americans now favor e-wallets over traditional payment methods, it's evident that this trend is here to stay. This method continues to be the fastest-growing in the payment sphere, with projections estimating a market size of nearly $16 trillion by 2028. 📱Why the surge in digital wallet usage? It boils down to one word: convenience! Research reveals that consumers increasingly seek streamlined payment experiences, and digital wallets deliver just that.  This article by PaymentsJournal touches upon how digital wallets are transforming the financial industry, propelling legacy institutions into the forefront of the 21st century.   ➡ Follow the link to know more:  https://lnkd.in/gyypBvgj #DigitalTransformation #LegacyInstitutions #DigitalWallets #FintechInnovation #BankingEvolution #ModernFinance #21stCenturyBanking #TechIntegration #PaymentsJournal

🌟 Discover the Power of Banking APIs Beyond Transactions! Banking APIs are the digital adapters driving innovation beyond instant payments and embedded loans. They facilitate seamless communication and secure data exchange, empowering third parties to tap into the wealth of customers' financial data. From enabling real-time payments to fueling the growth of neo banks, APIs serve as the backbone of every transformative leap in banking. They not only help banks to introduce revolutionary products and services but also empower them to monetize data through strategic partnerships. 💼At Opus Technologies, we understand the pivotal role APIs play in shaping the future of banking. With over 26 years of experience in the digital finance space, we specialize in driving innovative API integration initiatives. Partner with us to unleash the full potential of your bank's data and stay ahead in the ever-evolving financial landscape. Learn more on our latest blog: ⤵ https://lnkd.in/ddanszpH #BakingInnovation #apiintegration #FinancialTransformation🚀

🔒In an increasingly digitized world, the threat of cybercrime looms larger than ever, especially within the financial sector. With projections indicating a staggering $10.5 trillion annual cost by 2025, it's evident that cybersecurity has become a big concern for businesses worldwide. 🔧Enter DevSecOps - the solution to this pressing challenge. By integrating security practices into every phase of the development lifecycle, DevSecOps ensures that vulnerabilities are identified and addressed early on. This not only streamlines the development process but also significantly reduces the time to market for financial applications. 💡💻Moreover, embracing the DevSecOps approach fosters greater collaboration within organizations. In this blog we discuss the latest innovations in DevSecOps that can transform software security. Follow the link to know more:⤵ https://lnkd.in/dQS8Dzqb #DevSecOps #SoftwareSecurity #Innovation #Cybersecurity #TechnologyTrends #DigitalTransformation #SoftwareDevelopment #TechSolutions

🚀 Unlock the Future of Retail Payments with Paysemble™ 🚀 In the ever-evolving retail landscape, staying ahead means more than just keeping pace with change; it means leading the charge toward innovation and transformation. That's where Paysemble™ steps in – a dynamic payment integration framework that's reshaping the way financial institutions empower businesses in the retail sector. Gone are the days of one-size-fits-all solutions. Paysemble™ brings a new level of flexibility and adaptability, allowing businesses to seamlessly navigate through shifting consumer trends and preferences. With its modular architecture, Paysemble™ serves as a foundation that can be tailored to suit various use cases, ensuring that retailers have the tools they need to thrive in today's competitive market. ➡ Imagine a world where transactions are not just transactions, but opportunities to delight customers and drive loyalty. With Paysemble™, that world is within reach! By seamlessly integrating with major card networks like Visa and Mastercard, Paysemble™ ensures that every transaction is secure, efficient, and hassle-free. ⚡Join the revolution today and unlock the future of retail payments with Paysemble™. Follow the link to learn more about Paysemble: ⬇ https://lnkd.in/ght9A8EA  Let's shape the future of retail together. 💡🛍️💳 #Paysemble #RetailInnovation #PaymentIntegration #Payments #Banking #DigitalPayments #RetailPayments

🗓 The Week That Was in Payments - May 2024 - Week 2 1. Mastercard Launches Domestic Payment Processing in China This week marks a significant milestone in the world of payments as the Mastercard NetsUnion JV officially began processing payments made in China using Mastercard cards issued by the country’s banks. Moreover, Mastercard cards are now accepted for domestic and international purchases, marking a major step towards simplifying the payment landscape in China. Since June 2015, when China eased restrictions on overseas firms, Mastercard has been diligently working towards this goal.  Know more: https://lnkd.in/e6wPjgYF 2. Exciting Updates on FedNow Volume Growth! Federal Reserve officials have yet to reveal official statistics regarding the payment volume of the government's new instant payments system, FedNow. However, partners Visa and Jack Henry & Associates have noted a promising increase in volume. Speaking at the Nacha Smarter Faster Payments conference in Miami, Visa and Jack Henry executives shared insights during a panel on “Navigating Payments Interoperability.” Elspeth Bloodgood, Senior Manager of Product Management at Jack Henry, revealed significant growth: "In one week in April, we did, almost dollar-for-dollar, the transaction volume of a quarter in 2023.” Know more: https://lnkd.in/eYZinrRS #Mastercard #ChinaPayments #Innovation #Expansion #FinTech #Banking #Payments #FedNow #RealTimePayments #FinanceTech

Data holds great power in the banking and payments industry. It has the potential to drive innovation and personalization, helping FIs bring unique products and services to the market, ahead of the competition. ➡ The game-changing ISO 20022 standard provides richer, more structured data during the payment process. In a recent interview with Fintech Futures, our CEO, Praveen T M, emphasized the role of ISO 20022 in optimizing and realizing the value generated from the data. However, migration to ISO 20022 introduces new complexities in data management processes and strategies. To ease these challenges, Opus has introduced Paysemeble™. It's a suite of accelerators that offer pre-configured workflows and APIs to automate payment integration across channels. Built on cloud-native microservices, Paysemble™ accelerates the development and deployment of your payment solutions, getting you to market faster. Follow the link to know more about Paysemble™: ⤵ https://lnkd.in/ght9A8EA #ISO #ISO20022 #FedNow #CEOSpeaks #Payment #PaymentIntegration #Cloud #Microservices #Banking #FinTech #Innovation #Data

#JobPostAlert Revolutionize the payments industry alongside a brilliant team! Opus eagerly seeks skilled professionals to develop and execute innovative solutions.  If you have an eye for details and thrive on driving change in banking and finance, send your CV to talentsourcing@opustechglobal.com Apply now and make your mark on the future. #JobsAtOpus #PaymentSolutions #PaymentInnovation #FinTech #PaymentsTransformation #Modernization #EqualOpportunityEmployer

🏓🏆 What a thrilling Table Tennis Tournament we had! From nail-biting matches to incredible displays of sportsmanship, it was a true testament to our team's talent and passion. Congratulations to the winners and runners-up! Your hard work and dedication inspire us. A big thanks to all the participants and also to our amazing organizing committee for making it possible. Let's keep the momentum going for our future events! #TableTennis #TeamSpirit #Opus #TableTennisTournament #OpusTechnologies #GPTW

#MediaCoverage #CEOsInterview 📰 Read the latest interview of our CEO, Praveen T M, in the May edition of the Banking Technology Magazine by FinTech Futures. In this interview, Praveen shares his insights on how digital technology is transforming the financial industry. He attributes the recent modernization efforts in the banking and payments industry to the FinTechs, who have successfully pushed the envelope of technological integration and set the benchmark for customer service delivery. Praveen has also explained how Opus is building innovative platforms and solutions to enable banks, payment service providers, merchants, and FinTechs to embrace the latest trends, such as instant payments, open banking, and embedded finance. ➡ Follow the link to read the full interview: https://lnkd.in/g9hftk-F #Fintech #CEOSpeaks #Payments #Banking #OpusTechnologies #Opus #OpenBanking #EmbeddedFinance

🗓 The Week That Was in Payments - May 2024 - Week 1 1. Fed Proposes 24/7 Operations for FedWire and NSS The US Federal Reserve Board has requested comment on a proposal to operate its two large payment services, Fedwire® Funds Service and the National Settlement Service, seven days a week. The goal is to enhance the safety and efficiency of the US payment system and scale up the nation's payment and settlement infrastructure for the future. Interested parties have 60 days after publication in the Federal Register to share their views. Know more: https://lnkd.in/gvVTNmdT 2. Nacha Rule Changes to Fight Authorized Payment Scams Starting in mid-2026, new Nacha rules will come into effect to combat scams related to authorized payments. These rules encourage collaboration among sending and receiving FIs and their ACH customers. Even before 2026, on October 1, 2024, receiving FIs will have the ability to formally return entries suspected of fraud or “false pretenses” according to Nacha. Atlanta Fed has covered this change in its last blog. Know more: https://lnkd.in/gci5Qfat #USFed, #FedWire #NSS #AtlantaFed #PaymentFraud #PaymentScam #Nacha #FinTech #Banking #Payments