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Zeta’s Fusion: the bridge between banks and fintechs

Traditional banks are not technology-first, while fintechs with these capabilities lack the regulatory licenses required to provide these services. Zeta’s Fusion wants to bridge this gap through API banking

November 27, 2019 / 07:40 PM IST

Fintechs have the potential to revolutionize India’s financial landscape. The country already has several such companies that provide interesting services to various customers. However, Bhavin Turakhia, co-founder of Zeta realized that they needed a singular platform that had all the tools, which they could use to build financial or payment products that were compliant with governmental regulations.

That is how Fusion came into being. Turakhia explains how fintechs can use this API-based platform-as-a-service (PaaS) to instantly leverage a pre-integrated banking ecosystem which includes access to financial institutions, card networks and manufacturers, payment networks and other services critical to build financial products.

Q: What triggered the idea for Fusion?

A: The current banking ecosystem cannot cater to the needs of consumers the way new age digital companies can. This is because they are not technology-first companies, lack innovation in their DNA and are relatively slow moving. Fintechs have these capabilities, but lack the regulatory licenses needed to provide these services.

Fusion brings banks and fintechs together through API banking. It provides services provided by banks and card networks in the form of APIs to fintechs who can then easily develop apps on top of it.


Q: What will Fusion help fintechs build financial or payments products?

A: Fusion has a full-fledged control center called ‘Product Factory’, which enables fintechs to create their own product. So, if they want to create a pocket money product for families, the user will have to answer a question like, ‘What payment channels do you want to support’? If the answer is Visa, UPI and IMPS inward and outward, then they can configure and choose the type of card to be offered – digital or physical, the different payment methods to support the UPI handle, payment methods, etc.

The control center also allows fintechs to directly build their financial product. Post this, Fusion’s API enables them to develop a software that can handle customer onboarding, payment and account management. The API section allows them to add various commands including transfer and reversal to initiate payments on the platform.

Q: How can fintechs leverage the card issuance solution to manage their programs?

A: We have tied up with card networks like Visa, Mastercard and RuPay for Fusion, where the accounting system can be backed by any bank. We have also partnered with major card bureaus and have ensured that companies using Fusion can customize and personalize the cards for their customers as desired.

For instance, if a consumer loses their card it can be easily blocked via Fusion’s platform. Similarly, suspending the card is easy on Fusion. Another advantage while issuing a card through our platform is that companies can easily apply policy restrictions like transaction, balance, volume and spending limits.
Moneycontrol News
first published: Nov 27, 2019 07:40 pm

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