B2B Payments
B2B payments are not simple payment processes anywhere, anytime and on any device, so disruptions occur when payments are missed.
BFSI
Enable Smart Banking, Innovate Financial Services And Digitize Insurance
Leverage technology to embrace data & AI powered banking operations, adopt agility and speed across financial transactions & implement insurance digital trends.
Overview
We help banks, financial service providers and insurers in technology modernization and deliver the following
- Personalized embedded digital customer experiences
- Value added digital interactions with improved process efficiencies
- New revenue opportunities with market and competitor differentiation
Market trends
Open Banking
Open Banking provides agility, mobility and portability in doing transactions for customers and bankers. Banks can seamlessly integrate and work with other banks and other third-party services.
Chatbots and Robo-advisors
Intelligent chatbots help with basic banking and insurance tasks, and customer service. Robo-advisors with BFSI knowledge help customers with insurance purchase, investment advice, comparisons, etc.
Digitization and Automation
Digitizing processes in BFSI results improved efficiency, customer experience and productivity, and reduced costs and time. Automation accelerates digitized processes functioning and accuracy.
Hyper-Personalization
Hyper-personalization leverages customer Big Data to comprehend their preferences and offers customer centered BFSI products and services with data analytics and AI capabilities.
Challenges
Who we serve
At Wavelabs, we help Banks, NBFCs, Insurance, Financial Markets, FinTech, Credit Unions, Wealth & Asset Management, and Cards & Payments organizations in adopting feature rich business applications, infrastructure modernization, intelligent automation, data analytics, AI capabilities, AR/VR immersive customer experiences, IoT efficiencies etc.
Banking
HELPING BANKS BECOME SMARTER WITH DIGITIZED SYSTEMS, SEAMLESS INTEGRATIONS, EFFECTIVE RISK MITIGATION AND ACTION DRIVEN CUSTOMER INSIGHTS
We serve the following segments of Banking:
- Retail Banking – Saving and Deposits, Consumer Loans, Mortgages, etc.
- Corporate Banking – Corporate Deposits, Business Loans, High-Grade Securities, etc.
- Investment Banking – Corporate Finance, M&A Advisory, Debt and Equity Underwriting, etc.
- Treasury Management
Non-Banking Financial Companies
HELPING NON-BANKING FINANCIAL COMPANIES (NBFCS) TO ADOPT SCALABILITY AND EXPAND OPERATIONS WITH DIGITAL EFFICIENCIES AND TRANSFORMED CONNECTIVITY
We serve the following segments of NBFCs:
- Foreign Non-Banking Financial Companies
- U.S Non-Banking Financial Companies
- Deposit Accepting and Non-Deposit Accepting NBFCs
- Microloan Organizations
Insurance
HELPING INSURANCE GROUPS, CARRIERS, BROKERS AND INSURTECH COMPANIES TO POWER SYSTEMS AND PROCESSES WITH DIGITAL CAPABILITIES
We serve the following segments of Insurance:
- Life Insurance Companies
- Health Insurance Companies
- General Insurance Companies
- Specialty Insurance Companies
- Reinsurance Companies
Financial Markets
HELPING FINANCIAL MARKETS ORGANIZATIONS TO ADOPT SCALABLE AND HIGH AVAILABLE PLATFORMS, OPTIMIZE TRADE LIFECYCLE AND MANAGE RISKS
We serve the following segments of Financial Markets:
- Capital Markets – Equity, Debt, Bond and Foreign Exchange
- Money Markets
- Trading Platforms and Stock Market ISVs
- Regulators
FinTech
HELPING A BRAOD RANGE OF FINTECH INDUSTRY TO EMPLOY TECHNOLOGY AND BRING INNOVATIONS IN B2B, B2C AND P2P MARKETS
We serve the following segments of FinTech:
- Neo Banks
- PayTech Companies
- Personal Financial Managements App Providers
- WealthTech Companies
- LendTech Companies
- RegTech Companies
Credit Unions
HELPING CREDIT UNIONS TO TRANSFORM THEIR AUDIT & COMPLIANCE, FRAUD INVESTIGATION AND OTHER OPERATIONS TO DELIVER SUPERIOR MEMBER SERVICE
We serve the following segments of Credit Unions:
- Federal Credit Unions
- State-Chartered Credit Unions
- Community Development Financial Institutions
- Corporate Credit Unions
Wealth & Asset Management
HELPING WEALTH AND ASSET MANAGEMENT COMPANIES TRANSFORM THEIR ACCOUNT OPENING, CLIENT INSIGHTS, REPORTING AND COMPLIANCE TO DELIVER PREMIUM SERVICE
We serve the following segments of Wealth and Asset Management:
- Financial Planning, Retirement Planning, Estate Planning, Tax Planning, etc.
- Investment Portfolio Management
- Cashflow Management
- Debt Management
- Risk Management Investment Advisory
Cards and Payments
HELPING TO TRANSFORM CARDS & PAYMENTS VALUE CHAIN AND DELIVER PERSONALIZED EXPERIENCES FOR SHOPPERS AND MERCHANTS
We serve the following segments of Cards & Payments:
- Cards Issuance and Management Platforms
- Commercial/Corporate Card Offerings
- Merchant Management Systems
- Mobile Payments and Payment Gateways
What we serve
We help BFSI organizations with simple and Elegant UI/UX Designs for:
- All-in-one consumer banking apps
- Entire card management apps
- Business banking apps
- Digital Wallets
We help BFSI organizations with customer-centric product designs for:
- Loan apps with smooth loan workflow
- Card management apps with entire management workflows
- Buy Now Pay Later (BNPL) platforms
- Premium calculator and comparison workflows on insurer websites and marketplaces
Our Software Development services for BFSI include:
- Banking Software – Core Banking, Mobile Banking, ATM & Self-Service Banking, Loan Management, etc.
- Securities Trading and Digital Brokerage Platforms
- Insurance Management Systems – Customer Relations, Policies and Claims, Agent, Quotes and Commission, etc.
- New Age Apps with AI, ML, IoT and Blockchain capabilities
We help BFSI organizations in tech stack modernization with no impact on business as usual:
- Actionable data migration plan
- Retaining integrated workflows with APIs
- Modernizing system’s architecture
We help BFSI organizations to implement below use cases using Cloud and DevOps:
- Integrate fraud detection into banking systems
- Sensitive Data Discovery
- Improved Risk Modeling in Insurance and Banking
Data Engineering
We help BFSI organizations with the following:
- Automated data sourcing of diverse datasets such as KYC, Trading, Forecasting, etc.
- Data pipelines from disparate systems
- Cloud-based data lakes and data warehouses
Big Data
We help BFSI organizations with the following:
- Forecasting financial trends
- Modeling risk estimations for credit scoring, financial transactions, claims processing, etc.
- Life value prediction
Data Science
We help BFSI organizations with the following:
- Customer segmentation and personalized banking and insurance services
- Personalized discount offerings through cards
- Effective investigation during claims processing
Business Intelligence
We help BFSI organizations with the following:
- Customer intelligence for personalized offerings – loans, cards, etc.
- Real-time stock insights
- Insights on identifying processes to automate
- Investment analysis and insights
Machine Learning
We help BFSI organizations with the following:
- Insurance claims adjudication with image and video analysis
- Facial recognition enabled digital payments
- Alerting suspicious financial transaction with high precision
Deep Learning
We help BFSI organizations with the following:
- Insurance claims adjudication with image and video analysis
- Facial recognition enabled digital payments
- Alerting suspicious financial transaction with high precision
NLP
We help BFSI organizations with the following:
- Classifying and structuring banking, financial and insurance documents
- Genetic algorithms and deep neural networks for credit risk
- Preventing unauthorized transactions and identity theft
Computer Vision
We help BFSI organizations with the following:
- Classifying and structuring banking, financial and insurance documents
- Genetic algorithms and deep neural networks for credit risk
- Preventing unauthorized transactions and identity theft
Chatbots
We help BFSI organizations with the following:
- Self-learning chatbots for financial, trading, investment advice, etc.
- Intelligent chatbots for payment processing, process claims, applications, etc.
- Lead generation chatbots for loans, credit cards, etc.
We help BFSI organizations leverage Intelligent Automation for the following:
- Automated customer onboarding, KYC, account opening/closure processing, etc.
- Automated loan origination and document processing
- Automated claim processing
- Automated credit card application processing
- Automated trade processing, Trade allocations, settlement and reconciliation
We help BFSI organizations leverage IoT for the following:
- Alerting and reminders on financial transactions on wearables
- Virtual piggy bank services
- IoT enabled ATMs to identify usage patterns, malfunctions, cash shortages, etc.
- IoT enabled monitoring for insured objects help in damage analysis and damage prevention
We help BFSI organizations leverage Blockchain for the following:
- Decentralized cryptocurrencies and Decentralized finance in banking
- Decentralized crypto hedge fund management
- Tracking process and settlement global financial transactions
- Decentralized records to buy or sell digital assets
- Enabling P2P transfer globally
5G combined IoT enables telematics for Auto Insurance and telehealth for health insurance
5G and wireless networks enhances physical branch experience at banks
5G, high speed networks and edge computing enables real-time big data processing for banks, insurers, trading and finance companies.
5G enabled self-serving banking kiosks to facilitate banking services at remote locations.
What we serve
We help BFSI organizations with simple and Elegant UI/UX Designs for:
- All-in-one consumer banking apps
- Entire card management apps
- Business banking apps
- Digital Wallets
We help BFSI organizations with customer-centric product designs for:
- Loan apps with smooth loan workflow
- Card management apps with entire management workflows
- Buy Now Pay Later (BNPL) platforms
- Premium calculator and comparison workflows on insurer websites and marketplaces
Our Software Development services for BFSI include:
- Banking Software – Core Banking, Mobile Banking, ATM & Self-Service Banking, Loan Management, etc.
- Securities Trading and Digital Brokerage Platforms
- Insurance Management Systems – Customer Relations, Policies and Claims, Agent, Quotes and Commission, etc.
- New Age Apps with AI, ML, IoT and Blockchain capabilities
We help BFSI organizations in tech stack modernization with no impact on business as usual:
- Actionable data migration plan
- Retaining integrated workflows with APIs
- Modernizing system’s architecture
We help BFSI organizations to implement below use cases using Cloud and DevOps:
- Integrate fraud detection into banking systems
- Sensitive Data Discovery
- Improved Risk Modeling in Insurance and Banking
Data Engineering
We help BFSI organizations with the following:
- Automated data sourcing of diverse datasets such as KYC, Trading, Forecasting, etc.
- Data pipelines from disparate systems
- Cloud-based data lakes and data warehouses
Big Data
We help BFSI organizations with the following:
- Forecasting financial trends
- Modeling risk estimations for credit scoring, financial transactions, claims processing, etc.
- Life value prediction
Data Science
We help BFSI organizations with the following:
- Customer segmentation and personalized banking and insurance services
- Personalized discount offerings through cards
- Effective investigation during claims processing
Business Intelligence
We help BFSI organizations with the following:
- Customer intelligence for personalized offerings – loans, cards, etc.
- Real-time stock insights
- Insights on identifying processes to automate
- Investment analysis and insights
Machine Learning
We help BFSI organizations with the following:
- Insurance claims adjudication with image and video analysis
- Facial recognition enabled digital payments
- Alerting suspicious financial transaction with high precision
Deep Learning
We help BFSI organizations with the following:
- Insurance claims adjudication with image and video analysis
- Facial recognition enabled digital payments
- Alerting suspicious financial transaction with high precision
NLP
We help BFSI organizations with the following:
- Classifying and structuring banking, financial and insurance documents
- Genetic algorithms and deep neural networks for credit risk
- Preventing unauthorized transactions and identity theft
Computer Vision
We help BFSI organizations with the following:
- Classifying and structuring banking, financial and insurance documents
- Genetic algorithms and deep neural networks for credit risk
- Preventing unauthorized transactions and identity theft
Chatbots
We help BFSI organizations with the following:
- Self-learning chatbots for financial, trading, investment advice, etc.
- Intelligent chatbots for payment processing, process claims, applications, etc.
- Lead generation chatbots for loans, credit cards, etc.
We help BFSI organizations leverage Intelligent Automation for the following:
- Automated customer onboarding, KYC, account opening/closure processing, etc.
- Automated loan origination and document processing
- Automated claim processing
- Automated credit card application processing
- Automated trade processing, Trade allocations, settlement and reconciliation
We help BFSI organizations leverage IoT for the following:
- Alerting and reminders on financial transactions on wearables
- Virtual piggy bank services
- IoT enabled ATMs to identify usage patterns, malfunctions, cash shortages, etc.
- IoT enabled monitoring for insured objects help in damage analysis and damage prevention
We help BFSI organizations leverage Blockchain for the following:
- Decentralized cryptocurrencies and Decentralized finance in banking
- Decentralized crypto hedge fund management
- Tracking process and settlement global financial transactions
- Decentralized records to buy or sell digital assets
- Enabling P2P transfer globally
5G combined IoT enables telematics for Auto Insurance and telehealth for health insurance
5G and wireless networks enhances physical branch experience at banks
5G, high speed networks and edge computing enables real-time big data processing for banks, insurers, trading and finance companies.
5G enabled self-serving banking kiosks to facilitate banking services at remote locations.
