Regulations such as PSD2, Open Banking and ISO 20022 mandates, new payment models, emergence of fintech, contactless payments, A2A payments, the massive expansion of ecommerce accompanied by changes in consumer behavior, have disrupted the payments landscape. Banks and financial institutions increasingly want to leverage the open API ecosystem and launch new product offerings and value added services at a rapid pace. Data security, privacy, and fraud detection have become a top priority, while cost reduction remains a concern for large incumbent banks.
Coforge is enabling clients to build future-proof and secure payment solutions, ensuring compliance with ISO20022 messaging standards. By leveraging our event-driven architecture using micro-frontend and microservices, our clients can reduce costs, improve the experience and accelerate product evolution. Our legacy modernization framework allows banks and FIs to migrate from legacy to modern distributed platforms. With our expertise, our clients are better prepared to meet the challenges of the digital payments landscape.