December 2017 -

Hooray !!! CeleritiFinTech Certifies Market Simplified as An Innovation Marketplace Fintech Player

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We are delighted to announce that Market Simplified got certified as an Innovation Marketplace Fintech player by iValley & CeleritiFinTech (CFT).

The Fintech startups for this accelerator & certification program are selected from the CFT Hack the Core hackathon conducted earlier this year at iValley innovation center in San Ramon, SFO. Around 20 Fintechs participated in the hackathon addressing the areas of small business banking, regulatory technology, payment innovation, conversational UI & bot development toolkits and only 5 are selected for this certification program.

The certification process was intense. The Fintech must demonstrate seamless integration of 26 CFT Core Banking and Payment APIs into their respective systems and must pass 16 checkpoints in order to get certified as an Innovation Marketplace Fintech.

“This solution certification process helped us to validate our product idea with the industry leader as well as it facilitated the integration of our Conversational Banking Platform with CFT APIs. Now the product is pre-integrated and ready to be deployed to any bank that uses CFT core banking”, says Raghavan Srinivasan who spearheads this product development at Market Simplified.

The certified fintech companies will be invited to CFT Innovation Summit in Marco Island, Florida on 17th to 19th January 2018 where they will be demonstrating their products to global financial executives.

“This strategic partnership would help Market Simplified to pitch our pre-integrated conversational banking platform to CFT’s 100+ leading banks around the globe”, added Kountinya Sai, CEO-Americas, Market Simplified.

About CeleritiFinTech
CeleritiFinTech, an HCL DXC Technology Company, delivers banking software and services to global banking clients.

About iValley
iValley Innovation Center is a corporate fintech accelerator in the East San Francisco Bay Area. iValley provides agility and direction to financial institutions by allowing them to tap into and co-create with an ecosystem of startups to maintain a continuous focus on innovation. iValley is host of FintechTalk, the Intersection of Silicon Valley and Financial Services conference.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Market Simplified Is Now An Amazon Web Services Standard Consulting Partner

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AWS Partnership

Market Simplified is a thought leader and pioneer in the digital transformation space, especially catering to the needs of financial institutions, announced today that it became an Amazon Web Services (AWS) Standard Consulting Partner.

APN Consulting Partners are professional services firms that help customers of all sizes design, architect, build, migrate, and manage their workloads and applications on AWS. Consulting Partners include System Integrators (SIs), Strategic Consultancies, Agencies, Managed Service Providers (MSPs), and Value-Added Resellers (VARs).

Attaining AWS Standard Consulting Partner status is the acknowledgment of Market Simplified’s knowledge and skills, business practices, and comprehensive management lifecycle capabilities that align with AWS standards.

“We are seeing a global trend of financial institutions migrating from traditional captive IT to cloud and this partnership will help us to drive the benefits of cloud infrastructure to our clients and serve them with more agile and innovative solutions.” Quoted Prashanth Ganapath, Head Operations at Market Simplified.

About AWS (Amazon Web Services) Partner Network (APN)
The AWS Partner Network (APN) is the global partner program for Amazon Web Services (AWS). It is focused on helping APN Partners build successful AWS-based businesses or solutions by providing business, technical, marketing, and go-to-market support. AWS Partner Network (APN) Partners have opportunities to create new businesses or solutions while seeing significant growth with the opportunities provided by the APN Program. APN Partners receive business, technical, sales, and marketing resources to help grow their business and better support their customers.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Kotak 811 triumphs at India FinTech Awards 2017

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Kotak 811, India Fintech Awards

Best Corporate Innovation Award, India Fintech Awards 2017

We are delighted to announce that Kotak Mahindra Bank’s 811 app has bagged the ‘Best Corporate Innovation Award’ at The India FinTech Awards (IFTA) 2017.

Kotak 811 has proven to be a game changer for Kotak Mahindra Bank as customer onboarding in banks has long been a process-centric approach as opposed a customer-centric one and Kotak 811 has changed the account opening process into a customer-centric one. It has played a huge role in simplifying customer onboarding process, as it requires no physical presence at the bank and is a completely paperless process.

Uday Kotak, Executive Vice Chairman & Managing Director, Kotak Mahindra Bank said, “We aim to double our customer base in 18 months. 8/11 changed India. 811 aims to take our Prime Minister’s vision forward. It offers access to over 100 features on mobile including completing financial transactions, managing investments, fund transfer, and is an ideal lifestyle app for e-commerce on Flipkart, PVR, Goibibo, etc. 811 is fully integrated with Bharat QR Code, India’s new digital payment system, developed by the Government of India. The app is also Unified Payment Interface (UPI) enabled, for instantly sending and receiving money. Further, 811 customers will enjoy all digital transactions at zero cost, and get a free virtual debit card.”

The History

We, at Market Simplified, have a long-standing relationship with Kotak Mahindra Bank as their technology partner, we have developed their Mobile Banking application. Kotak Mahindra Bank approached us with a specific objective to double their customer base within 18 months. This was just about the time of demonetization when the whole nation was struggling to change their 500s and 1000 rupee notes, we were brainstorming on a solution that could turn around things for Kotak.

The challenge for Market Simplified was to execute the project within a short span of time as Kotak Mahindra Bank was committed to bringing the Digital Onboarding quickly to the market soon after Demonetization.

Giving an insight into the project Samuel Rajkumar, Project Manager, Market Simplified said “Kotak wanted the consumers to have a downloadable bank account, the initiative was very innovative and a complex one as it involved technology Integration from multiple third parties, and  in spite of the challenging conditions the project was executed in less than 45 days, and it has exceeded the expectations of Kotak and its customers. ”

One might also be wondering about the rationale behind the name of this innovative app which has taken the banking industry by a storm. The name Kotak 811 was inspired by the date (November 8) on which demonetization was announced by Prime Minister Narendra Modi.  After Kotak 811, Kotak’s customer base has increased to 17 million with close to 500,000 installs and the app also has a 4.5 star rating.

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

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