Bringing Life into FinTech
Symphony is built from the ground up for Financial Services Organisations and Telco’s who are looking for their own, branded digital payment platform and fully immersive ‘Life’Tech. The combination of FinTech, Digital Banking and Customer Loyalty capabilities in one platform is unique to Symphony. Symphony helps users to maintain their virtual wallets, pay to merchants/payees conveniently, connect with existing banking functions, discover new shopping experiences (deals, coupons and vouchers), take part in special promotions and loyalty programs, and stay in touch with family and friends (chat, share credit, split pay and gift). With a few taps on a smartphone, users can access a range of financial, social and lifestyle features and securely make purchases.
Symphony’s digital payment wallet consolidates industry-standard payment options, such as pre-paid, CASA, Visa, Mastercard, Amex and Union Pay. It is a fully scalable, off-the-shelf and highly customisable digital wallet and loyalty platform offering the most secure, convenient and fastest way to pay for goods, services, bills and more. It is also geared for the future with the ability to include cryptocurrency. The wallet works as a hub that can store all existing payment options digitally and virtually. Sensitive information relating to payment options are stored in a segregated secure data store. As FinTech moves into ‘Life’Tech, Symphony’s digital wallet provision of services to the customer at work, at home, when shopping, when exercising, when at leisure becomes paramount.
The user experience and stickiness are further improved with the platform’s inbuilt machine-learning capabilities. User payment and usage patterns are analysed by the learning agents and algorithms to promote deals and promotions. Users are reminded of recurring and frequent payments to make sure bills are settled in a timely manner. Further, users are alerted on special events such as birthdays, anniversaries, etc. to send gifts to friends and family.
Symphony primarily focuses on providing an enhanced user experience. The customer interface, merchant Point of Sale, merchant portals and administration portals are all designed to ensure an optimal experience to the user. These interfaces can be customised for specific requirements. Moreover, the customer payment app is designed to provide an one-app-for-all experience, with features such as making utility payments, receiving loyalty discounts, maintaining funds through a digital wallet, sending money to family and friends, staying in touch via chat and making purchases.
The Symphony platform comprises a comprehensive collection of building blocks for the Financial Industry to facilitate a myriad of business use cases. For example, the platform can be implemented as a payment solution, with core offerings that include a digital wallet, a digitised banking experience, a product catalogue for merchants, to act as a payment gateway/switch, the ability to make quick and secure payments and loyalty rewards programs. Each Symphony implementation would be a unique customisation based on the functional flavour required by businesses.
The platform has been designed with social and collaborative features. Customers could be grouped into communities of friends, merchants could be grouped into communities to offer amalgamated deals and experiences and billers/payees can be grouped to perform bulk payments. Symphony works as an aggregation hub for different types of communities in a FinTech eco-system. This collaborative experience is unique to the platform and highlights why we bring ‘Life’ into FinTech
Integrating with existing payments gateways and systems is one of the main challenges in implementing new financial platforms. Using SpiderCraft, a state-of-the-art integration middleware, Symphony is Interoperable with a blend of traditional and new payment interfaces providing a seamless user experience for both consumers and merchants. The platform has pre-configured connectors to integrate with industry standard interfaces and systems such as ISO 8583, REST, SOAP, and XML.
Symphony can be configured to realise several revenue options such as via merchant discount rates (MDRs), advertising, data mining, analytics and loyalty. The platform’s capabilities of cross-functionality and coordination provide a distinct advantage when it comes to efficiency, innovation and the ability to use data in creative ways.
Completely white labelled platform with rich customisation which can be tailored to fit to your brand identity. The platform is mature enough to be commoditised for the Financial industry. The platform is agile and highly scalable — with easily configurable active components, thus giving the ability to pick and choose modules and features suitable for your organisation.
Symphony is compliant with widely accepted PCI DSS security guidelines. The platform has been designed and implemented with enterprise-grade security standards in each tier in the architecture. The data at rest is encrypted with the assistance of enterprise-grade Hardware Secure Modules.
Completely white labelled platform with rich customisation which can be tailored to fit to your brand identity. The platform is mature enough to be commoditised for the Financial industry. The platform is agile and highly scalable — with easily configurable active components, thus giving the ability to pick and choose modules and features suitable for your organisation.
Symphony is modelled on a multi-tiered modular architecture using best-of-breed open source technologies available in the industry. Symphony business logic tier is founded on the micro-services architecture which could be easily configured to auto-scale on containerised environments to facilitate dynamic scalability. The solution can be deployed as an on-premise or mix of hybrid public cloud and on-premise environments.
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