ECS Fin Wins Technoviti 2020 award for Innovation in Payment Processing
11 February 2020
ECS Fin was the first-place winner of the Technoviti Award for innovating payment processing solutions. The mega event of innovation held in Mumbai on 11th February 2020 focused on the theme of acknowledging experience as key in crafting cutting edge solutions. The whole theme was to push beyond the traditional and limiting idea of ‘Experience’ to ‘Innovation’ that creates a wholesome definition inclusive of Security, Compliance, Risk Management and Customer Experience…
ECS Fin was named the top innovator in Payment Processing amongst 35 nominees. A team of 15 jury members comprising CXOs and decision-makers from eminent banks and technology firms determined the scores based on innovativeness, implementation feasibility, customer impact, scalability and adherence to security and compliance. In addition to other metrics such as facts and figures of measurement, business impact, customer testimonials, and the composition and capability of the team behind the innovations were also taken into consideration. ECS Fin’s IMS Payment Hub proved to be a groundbreaking solution in all respects and went on to win the top honor.
IMS payment system has revitalized payment processing by bringing the life cycle of the transaction to the forefront and eliminating messages and departments.
The primary goal was to eradicate the exhausting data-mapping and create a straightforward interface that helps stakeholders and authorized entities to effortlessly interact at specific stages between inception and settlement of a transaction. The solution has enhanced data governance and reporting in the long run.
The implementation procedure that once took years, can now be carried out in a matter of months thanks to ECS Fin’s highly flexible and integrative solution. Banks who resorted to this software now offer premier services to customers and report higher annual profits. ECS Fin has set a benchmark in providing clients with an all-encompassing solution and saving them the trouble of seeking multiple vendors for different services.