Payment Innovation with UPI

The United Payments Interface (UPI) has quickly become India’s most popular payment interface, driven by customer demand for anytime anywhere access and the widespread availability of mobile connectivity. UPI payments are constantly innovating and evolving from providing real-time person-to-person payment infrastructure to supporting myriad other person-to-person payment use cases. Whether your customers want to shop, pay their bills, or get pre-authorized for payments, UPI can simplify and streamline their payment experience.

With ongoing innovation in digital financial products, the landscape of financial transactions is quickly shifting from traditional in-person interactions using physical cash and paperwork to a digital future defined by application stacks and API workflows. UPI has disrupted digital payments in India, but still faces restrictions and obstacles. Recognizing and tackling issues like network availability, security, transaction caps, interoperability, awareness, and customer service can promote a more inclusive and productive UPI environment. Ongoing innovation, cooperation between stakeholders, and proactive steps to strengthen security and user satisfaction will be vital to conquering these hurdles and unlocking UPI’s complete potential as a transformative digital payment method. By continuously enhancing and expanding UPI through new technologies, collaboration, and a focus on user experience, we can fully realize the promise of UPI to revolutionize digital payments.

The Growth of Digital Payments Ebook

A digital payment, sometimes called an electronic payment, is the transfer of value from one payment account to another using a digital device such as a mobile phone, PoS (Point of Sale) system or computer, a digital communication channel such as mobile wireless data or SWIFT (Society for the Worldwide Interbank Financial Telecommunication) where both the payer and the payee use a digital device such as a mobile phone, computer, or a credit, debit, or prepaid card. This definition includes payments made with bank transfers, mobile money, and payment cards including credit, debit, and prepaid cards.

The payer and payee could be either businesses or individuals. This means that for digital payments to take place, the payer and payee must both have a bank account, an online banking method, a device from which they can make the payment, and a medium of transmission, meaning that either they should have signed up to a payment provider or an intermediary such as a bank or a service provider.

Generative AI for FinTech

Generative Artificial Intelligence (GenAI) has emerged as a groundbreaking technology, enabling machines to create, mimic, and innovate in unprecedented ways. This white paper presents an in-depth exploration of Generative AI, shedding light on its underlying principles, techniques, and applications. We examine various generative models, including Generative Adversarial Networks (GANs), Variational AutoEncoders (VAEs), and autoregressive models, while elucidating the training methodologies and evaluation metrics employed in this field. Additionally, we investigate the diverse range of applications, from creative domains like art, music, and storytelling to practical areas like data augmentation and synthesis. The paper also addresses the ethical implications associated with Generative AI and outlines potential challenges and future directions for this cutting-edge technology.

Revolutionizing the Future of Lending

Rapid advancements in technology have enabled the rise of Digital Lending which is, the provision of financial services and loans to individuals or businesses through digital platforms. Digital lending eliminates the need for traditional banks by using websites, online platforms, mobile apps, and digital technologies to facilitate loan applications, credit assessments, approvals, and disbursements. It connects borrowers with lenders, increases accessibility, and reduces processing time and costs. The wide-spread availability of mobile and internet services even in remote areas has expanded the reach of digital lending and promoted inclusivity of the population that did not have access to traditional financial services.

Another key factor that has led to the growth of digital lending globally is the increasing demand for credit. Also, the need for speed and convenience is necessitating the digitalization of financial services. In India in particular, the boost in digital lending can be attributed to the government’s push towards digitalization of the country and the creation of several digital transaction pathways such as the Unified Payments Interface (UPI).

Proliferation of data from varied sources and the development of advanced algorithms and analytics to harness insights from the data have vastly improved the security and robustness of digital lending services. Data analytics helps with 360-degree analyses based on factors such as the borrower’s financial data, repayment history, credit utilization, social behavior and more, for better credit assessment, risk management, and accuracy in loan decisions. This has in turn empowered lenders to accelerate the approval process and offer highly flexible terms and competitive interest rates.

The Cloud Cost Optimization E-book

The advent of cloud computing has introduced phenomenal changes in the way we build and deploy applications. With the continuous evolution of cloud computing models, the technology think tanks must make informed decisions about which cloud services and payment models can deliver the best results in the most cost-effective manner.

When new businesses (or an existing one looking to migrate) are envisioning their cloud adoption journey, they often miss out on a crucial step —setting up a cloud cost management framework. This miss may lead to a rapid rise in an organization’s cloud instances, less-than-optimal services, or issues with providers, leading to increased costs in cloud deployment and maintenance. In line with this, it is therefore imperative to address some of the common challenges when contemplating cloud cost optimization.

This eBook focuses on the cost optimization methods that should be applied to almost any cloud provider, while it provides guidance to help the Developers/DevOps Team adopt industry best practices to design, deliver, and cost-effectively maintain environments.

 

 

Elevating Hospice Care with Technology

The hospice and palliative care industry is one of the fastest-growing verticals within the U.S. healthcare ecosystem. Factors such as an increase in the geriatric population, the prevalence and growth of chronic diseases amongst the population, and the general shift in focus from inpatient to outpatient care are continuing to contribute to the growth of the segment.

Organizations in this industry are also going through a multi-layer transformation. In terms of practice, payment models, and pervasive technology, the industry is moving in tandem with the changing healthcare landscape. Hospice providers around the country are utilizing technology to streamline processes, increase efficiency, and improve care coordination. Technologies such as Artificial Intelligence, Predictive Analytics, Telemedicine Systems, and Virtual Reality are gradually changing the way hospice care is delivered.

Inside the ebook:
– Hospice Care Levels
– Hospice Care Challenges
– Intervention through Technology
– Challenges – Technology Matrix
– Way Forward

Security Challenges and Emerging Trends in Healthcare

With the industry moving towards healthcare transformation and ‘digital health’, there has been a lot of innovation and shedding of legacy systems & processes. EHRs (Electronic Health Records) and Telehealth are enabling greater healthcare interoperability and mobility. But, with the healthcare industry still learning the ropes of newer technology, it has not yet fortified data and system security in equal measure. This has provided an easy path for cybercriminals to exploit these vulnerabilities and target the Healthcare Industry.

Machine Learning for SOC (Security Operations Center)

Gireesh Sreedhar KP
Senior Technical Manager – Location Zero, GAVS

Ravindran Girikrishnan
Senior Technical Manager – Cyber Security Operations, GAVS

Traditional SIEM tools have not been able to scale up to handle the volume and complexity of modern-day hybrid and dynamic IT infrastructure. We have reached a point where SOC needs have surpassed the limits of traditional SIEM and human capabilities, and so, supplementing SIEM and human intelligence with Artificial Intelligence and Machine Learning have now become indispensable.

Algorithmic Alert Correlation

Gireesh Sreedhar KP
Senior Technical Manager – Location Zero, GAVS

The modern-day demands for always-on businesses and 24×7 uptime have sent IT monitoring into overdrive. While constant monitoring of infrastructure and applications is necessary, it can lead to a deluge of generated alerts that can quickly get overwhelming.