Decimal Technologies: Driving Innovation in BFSI & Enterprise Software
Decimal Technologies, a Fin-tech Company founded in 2009, that is revolutionizing the market for BFSI and enterprise software. With a team of experts, they collaborate with enterprises globally, offering cutting-edge technology solutions and a large fintech API marketplace. Their focus is on driving efficiency and productivity in the BFSI sector through their low-code no-code platform, Vahana. Their goal is to simplify application development, and digitize workflows.
During an Interview Abdullah interacted with Lalit Mehta, Co-founder & CEO, Decimal Technologies in which they discussed decimal technologies and how it help financial institution expand their business, How does the Vahana full-stack no-code platform assist in application development and system integration, some key features of Decimal Technologies’ solutions that enhance sales team productivity, How does Decimal Technologies help financial institutions with lead management and customer onboarding.
1. What is Decimal Technologies, and how does it help financial institutions expand their businesses?
– Decimal Technologies is a leader in no-code platform solutions, empowering the BFSI sector to build, deploy, and scale applications effortlessly. With an Al-accelerated, No-Code development environment, Decimal’s Vahana Cloud platform simplifies the development process, helping businesses accelerate their digital transformation.
2. How does the Vahana full-stack no-code platform assist in application development and system integration?
– Vahana Cloud is an LCNC platform driven by the philosophy of “Create while you Ideate,” enabling the creation of web and mobile apps for enterprises with robust middleware. It offers multiple modules designed to build enterprise-level applications. The platform’s core modules include vDesigner, vFlow, and vConnect, along with supporting modules such as API monitoring, release manager, and vScheduler.
3. What are some key features of Decimal Technologies’ solutions that enhance sales team productivity?
– Vahana Cloud offers seamless configuration of multiple data sources, including databases, APIs and files, enabling the processing of millions of transactions with high performance. The platform enhances efficiency by automating complex tasks such as incentive calculation, eliminating the need for tedious manual processes through intelligent modules. It also features advanced tools like Lead Scoring, Automated Lead Allocation, an Intelligent Day Planner, Product Recommendation Engine and Sentiment Analysis, all designed to optimize business operations. Additionally, Vahana Cloud integrates with various systems, including Dialler Integration, Card Scan & Automated Data Capture, WhatsApp Integration and GPS-Based Automated Route Planning. The platform also supports voice notes, further improving the overall productivity and effectiveness of enterprise operations.
4. How does Decimal Technologies help financial institutions with lead management and customer onboarding?
– Decimal Technologies helps financial institutions with lead management and customer onboarding by offering digital-first, AI-driven solutions that streamline customer acquisition. We enable lead capture across multiple channels, including online, mobile, and branch banking, while automating KYC and verification through seamless integrations with UIDAI, NSDL, and credit bureaus. With AI-powered verification and pre-integrated APIs, Decimal ensures secure, efficient, and paperless onboarding, reducing turnaround time and enhancing the overall customer experience.
5. Which major banks currently use Decimal Technologies’ products and solutions?
– Decimal Technologies played a key role in helping Kotak 811, AU Small Finance Bank, Yes Bank, and Jana Small Finance Bank with digital solutions. Additionally we work closely with leading private banks, NBFCs, and insurers, offering them digital transformation solutions that drive efficiency and scalability.
6. What role does Decimal Technologies play in API integration for fintech companies?
– Vahana Hub is an extensive API marketplace featuring over 1,200 APIs from more than 100 API providers, allowing businesses to seamlessly integrate APIs into their products and services. The platform offers a comprehensive suite of features designed to streamline API integrations and management, empowering businesses to efficiently connect and leverage external services to enhance their offerings.
7. How does Decimal Technologies’ API marketplace contribute to streamlining financial services?
– Vahana Hub accelerates integration by reducing development time through ready-to-use APIs, eliminating the need for custom development. Its comprehensive API ecosystem includes a wide range of financial APIs, such as KYC, payments, lending and analytics, enabling businesses to achieve end-to-end digital transformation. The platform ensures seamless interoperability and scalability, integrating effortlessly with existing systems and supporting growth as financial institutions expand their digital capabilities. Vahana Hub also prioritizes regulatory compliance, offering APIs that adhere to industry standards and ensure security in line with financial regulations. Finally, it promotes cost and time efficiency, helping banks and fintechs launch products faster and at a lower cost by leveraging pre-configured API solutions.
8. What advantages does a no-code platform like Vahana offer compared to traditional application development
– Vahana Cloud, built on a microservice architecture, offers exceptional scalability, effectively handling increasing data volumes and user interactions without compromising performance. It can scale both vertically by allocating additional hardware resources to specific microservices and horizontally by deploying more instances of a given microservice, such as vConnect. Security is a top priority for Vahana Cloud, employing robust measures including data encryption, authentication protocols, access controls, and routine security assessments to protect sensitive information and comply with regulatory requirements. The platform guarantees high reliability and availability, incorporating failover and redundancy mechanisms to minimize downtime and ensure continuous operation. Additionally, Vahana Cloud excels in integration capabilities, seamlessly connecting with various systems and platforms, including legacy systems, through APIs, middleware, and data interchange formats. Vahana Cloud is designed for easy manageability, allowing for straightforward configuration, monitoring, administration, and updates, supported by deployment automation and configuration management tools. As a trusted solution in the BFSI sector, Vahana Cloud supports regulatory compliance, including adherence to SOX regulations and ISO 27001 certification. It can also be customized to meet other legal and regulatory standards as required by different industries.
9. How is Decimal Technologies addressing the unique regulatory landscape in the Indian Market, particularly in terms of data privacy and security?
– Working with Banks and NBFCs, we are required to be very vigilant with data privacy and security. In order to achieve this, our platform is designed to take care of regulatory, risk and compliance requirements. Furthermore, we have an in-house team that keeps abreast of the regulatory landscape and accordingly drives changes in the platform and our offerings.
10. What sets Decimal Technologies apart from other fintech solution providers in the industry?
– Vahana Cloud is designed for ease of use, allowing application builders with limited technical expertise to create applications effortlessly. Its rapid application development capabilities enable faster creation of applications compared to traditional development methods, significantly reducing time-to-market for new projects. The platform also lowers development costs by minimizing the need for highly skilled technical resources and shortening the overall development cycle. Applications built on Vahana Cloud require minimal maintenance, with easy management and seamless integration of change requirements. The platform fosters a collaborative approach, enhancing cooperation between business stakeholders and application developers, leveraging their respective strengths to achieve project success. By abstracting the complexities of meeting non-functional requirements (NFRs), Vahana Cloud reduces the complexity faced by application builders. Additionally, its engineering ensures that crucial NFRs are not overlooked, mitigating risks that might arise from developer inexperience or tight project timelines. With these advantages, Vahana Cloud supports efficient, cost-effective, and collaborative application development.
