Verinite Signs with one of the top commercial banks at Kenya to support them on their Way4 platform
“The more the versatile you are the better the world recognizes you.” We are known for our “Inch wide mile deep” strategy towards the services we provide and as a result, we have dug deeper and have struck success in expanding our services on the card management system platform. Verinite, is immensely excited to announce, that after remarkable progress over the last 9 years, we have signed our first client on Way4 platform in the African region.
The client is a dominant player and one of the best financial in the Kenyan market, who has been consistently growing and has always been innovative in terms of the type and range of products and services they offer. They are the biggest commercial bank, offering a full range of corporate and retail banking services, with 35 branches in Kenya and international operations based in 3 other countries. They have recently bagged the “Proud Innovation Award” for the 2nd time.
The bank is currently migrating from YSE NARDA platform to the Way4 platform. Verinite will be helping them as domain experts of Way4 to support them for migration of debit, credit, and prepaid cards. Verinite has been entrusted to help the bank by supporting and managing data migration, product definition, functionality definition, scope identification for scheme Certification, and production verification.
Verinite’s immense knowledge in payments, application management, and implementation services and skills will serve as valuable assets towards helping our clients. This will be our 7th migration project in the last 24 months and we have been successfully collaborating with banks in the emerging economies towards their cards technology transformation programs and this win is another affirmation of the company’s expertise in cards domain.
Third largest private sector bank in India Selects Verinite for its Switch/CMS Upgrade Project
The 3rd largest private sector bank in India selects Verinite to upgrade its Switch and Credit Card Management System to enable digitization and speed-up their implementation journey. Our client offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
Client is currently using TSYS PRIME Version 3 as its switch/cards management system and was planning to upgrade to the latest version (v4) to speed-up their digital strategy and keep pace with rapidly changing consumer expectations. They were looking for a partner who can ensure on-time, issue-free and seamless implementation. Verinite was chosen after an extensive process as the client was looking for a one-stop solution that covers end-to-end facets of the V4 upgrade supplementary services.
Verinite will be responsible for configuration, API customization, interfaces enhancement, reports modification, scheme certification and independent testing. Our team will be performing User acceptance testing, Data conversion, Regression testing and interface testing as part of the testing workstream. The Scheme certification workstream involves online/offline certification for international and domestic schemes.
Verinite has been successfully collaborating with banks in the emerging economies for their cards technology transformation programs and this win is another affirmation of the company’s expertise in cards domain. This is 6th client for Verinite in India and the list continues to grow in leaps and bounds.
Life is all about being Versatile and training all realms of life” With the expansion in our services, Verinite is extremely proud in joining hands with Singapore based Southeast Asia’s first licensed Neo(Digital-only) bank in the Philippines. A Neo bank exists solely online without any physical branches which require cloud-native technology that facilitates innovation whilst future-proofing investment to provide a customer experience which traditional banks struggle to offer.
Our client is a transformative digital bank on a mission to revolutionize the way money works in the Philippines. They plan to provide retail financial products, including deposits, loans, current accounts, payments, and cards on a highly secure digital banking platform. The bank is planning to launch debit cards on BPC SmartVista as its card management system and was looking for a partner who could assist them in seamless and issue-free implementation. As part of this engagement, Verinite has been entrusted to help the bank by owning-up the end-to-end implementation by supporting bank with functional and integration testing. The scheme certification stream will involve getting issuing certification for Mastercard.
This marks a new beginning for Verinite in Neo Banking space. Neo Banks is a rising phenomenon in emerging markets as they are viewed as a direct challenge to the status quo of the established traditional banks, with its lower cost structure and hyper-personal customer experience. Our differentiated and focused offerings for Neo Banks ensure innovation, agility, and strong domain expertise.
Imprinting our footsteps by gaining the clients trust again by providing BAU support on BPC SmartVista in the GCC region.
We always believe if we focus on success, you’ll have stress. But if you pursue excellence, Success will be guaranteed. After completion of the successful migration project, Verinite has been awarded long term BAU (L1/L2) support deal for BPC SmartVista application.
The client is one of the oldest bank in Oman that provides customers with a comprehensive suite of innovative solutions in Retail banking, Corporate and Project finance, Investment banking, trade finance and most recently, Islamic Banking. Client replaced its existing Open2 switch with SmartVista switch to add more features and capabilities for Cards and Acquiring functions.
For BAU support engagement, Verinite will be responsible for system configuration, defining templates for new products, maintain interfaces, testing of issues/enhancements /compliances/CR’s, improving overall service delivery mechanism, and guide business team in parameterization across suite of BPC SmartVista.
It can be said as “Trust and expertise” are the heart and soul of an enterprise, and business success depends on the connections you create and nurture. Verinite is known as a partner who helps banks and financial institutions in emerging markets to extract the maximum value of their business and technology projects in cards, lending and payments domain. Another long term deal support deal added to our growing list of achievements.
Verinite parachuted to ensure seamless card migration from ElectraCard to FirstVision Platform for a Bank in India
Once again, Verinite is pleased to announce its new client win in India to support credit card migration. Verinite will be providing Independent Testing and Scheme Certification Services for migration of credit card’sportfolio onto First Data’s FirstVision payments processing platform.
Client is first among the new-generation private banks in India with headquarters in Mumbai. Bank commenced its operations in 1994, and now offers retail, commercial, transactional and electronic banking products and services. Bank is known for churning out first of kind services/innovations which further improve a customer’s banking experience. Bank offers Visa, MasterCard and AMEX credit cards to it’s retail and corporate customers and is planning to migrate its credit card portfolio onto First Data’s FirstVision platform.
Verinite has been selected by the Bank to support this card migration project. Client’s credit card portfolio is currently being processed on MasterCard’s ElectraCard platform. As part of the migration project, the card portfolio will be migrated on the FirstVision India Hub platform. Verinite will be responsible for testing data migration, functional testing on new platform for existing functions that includes base and customizations & testing integration of the new system with existing satellite systems to ensure a error-free and seamless migration. Also, Verinite will be responsible for issuing online/offline certification support for Visa, MasterCard and AMEX schemes.
Verinite is confident to execute this project successfully with its proven track record in executing similar data migration engagements, deep testing expertise, experience of FirstVision processing system/ platform and cards domain expertise.
New client wins are always fulfilling but some wins are more special. This is one such win. We are glad to be associated with a client who not only entrusted in our values and differentiated proposition but also honored our hard work and perseverance. This is 4th client for team Verinite in the India as we continue to strengthen Verinite’s position as preferred services partner for cards related projects for banks in emerging markets in Asia.
Ayubowan Sri Lanka!!!
Verinite signs its 3rd client in Sri Lanka to support TSYS Prime V4 Upgrade Project
There is a very popular saying – if you focus on success, you’ll have stress but if you pursue excellence, success will be guaranteed. Verinite takes a pride in announcing its 3rd client win in Sri Lanka.
Sri Lanka is entering a new era of progress and our client is sprinting with it. The client is among the top 30 business establishments in Sri Lanka as ranked by Business Today Magazine, ably providing a host of financial products and services to a wide range of customers. They are also the bank behind Sri Lanka’s first fully digital bank, FriMi.
Our client is embarking on a cards transformation initiative to upgrade its CMS platform to the latest version of TSYS (i.e. Prime V4) to remain consistent with its motto of being most customer centric bank from last 20 years. Verinite will be providing independent testing services for the PRIME v4 upgrade project that is undertaken. Verinite will be responsible for User acceptance testing, Data conversion, Regression testing and interfaces testing for this project. This is another big win as it strengthens our positioning in Sri Lanka as preferred partner for cards initiatives / programs.
Our demonstrated experience of 10 cards migration programs (in last 24 months), deep TSYS expertise, proven expertise in handling card testing projects and strong credibility as niche cards domain company proved to be the clincher. We are confident that our experience and expertise will definitely make tangible difference in ensuring issue-free and on-time implementation. Team Verinite is excited to bring our innovative, quick footed, domain focused and empathy driven mindset to serve the banks in Sri Lanka.
Verinite is pleased to announce signing of its 2nd client in Kuwait. Client is the youngest conventional Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base.
Client is planning to launch new wallet services for its customer to enable secure usage of cards on digital channel. The platform will be compliant with MDES and VTS norms to ensure both Visa and MasterCard cardholders can benefit from it. Bank is also partnering with three wallet service providers (ApplePay, SamsungPay & AndroidPay) to improve coverage and ease of usage for its customers.
Verinite has been entrusted to support the host certification, regression testing and wallet certification on PowerCARD platform. Team will be responsible to prepare test strategy, test plan, test scenario’s and conduct end-to-end to ensure certification and comprehensive functional regression. Our previous experience of executing similar project in UAE (again on PowerCARD platform) was key reason for being chosen as the partner.
This is 2nd client win for Verinite in Kuwait and 13th client in GCC region. This win is another step towards to becoming a partner of choice for banks to support implementation of their turnkey cards technology / business initiatives.
Verinite signs up with Singapore Headquartered Fintech Company to deliver API based digital prepaid cards platform
Verinite is known as partner who helps banks and financial institutions in emerging markets to extract maximum value of their business and technology projects in cards, lending and payments domain. There have been times when we are approached by disruptive fintech players who are looking at executing some interesting ideas and developing newer business models for cards space. This is one such story where Verinite would be playing its part in developing a disruptive story in South East Asia’s prepaid cards space.
We are glad to announce signing of a deal with Singapore headquartered fintech company to launch an API-based digital platform that will enable start-ups, fintech companies and enterprises to launch their own branded prepaid cards in 30+ countries across South East Asia and Europe.
Verinite is responsible for verification and validation of the end-to-end prepaid cards platform (PCMS System). This new age API based platform delivers flexibility, features, speed and scale thus supporting the ambitions of enterprise fintech players to start issuing the payment cards in as little as 4 to 6 weeks. Our role entails ensuring this platform delivers industry standard features / functionalities, performance and easy adoption of newer trends and high expectations.
Verinite’s deep cards domain expertise, knowledge of 10+ cards technology platforms and in-depth understanding of South East Asia market played a key role in cementing this relationship. Team, at Verinite, is all excited about this journey and client’s mission to democratize payments globally, helping businesses move money internationally in fast, convenient ways. Here we come !!
Marhabaan Eamman ! Its special EID celebration @ Verinite !! We sign with top 5 bank in Oman to support the Switch Migration Project (BPC SmartVista Implementation) !!
Giving a gift indicates that they were important enough to merit the time and trouble it took to find something appropriate, On this Eid al-Fitr 2019, Verinite receives a beautiful gift this year from one of the clients in Middle East. Verinite literally clinched a deal from mighty banking technology service providers and it takes us an immense pleasure in stating that we have grabbed an opportunity to work on an important switch migration initiative with top 5 bank in Oman.
The client is one of the oldest bank in Oman that provides customers with a comprehensive suite of innovative solutions in Retail banking, Corporate and Project finance, Investment banking, trade finance and most recently, Islamic Banking. Bank has decided to migrate their Switch, ATM and POS to BPC SmartVista, and were looking for partner who could assist them in seamless and issue-free implementation. Client went through a comprehensive evaluation process where Verinite stood tall and was chosen amongst all mammoths for its outmatched and successful track record to own and deliver winning switching & card system engagements across industry leading card platforms.
Verinite has been entrusted to help the bank by owning-up the entire data migration, functional, regression, performance and production verification testing stream. The certification testing stream responsibilities will involve support acquiring certification for Visa, MasterCard and CBO.
Undoubtedly, Verinite is being looked upon as a niche cards & payments technology service partner in market today, especially for technology transformation engagements, as it is proving handy in Consulting as well Technology rollouts by consistently delivering value proposition based on deep domain expertise and experience. Testimony to which, now Big Banks along with small to mid-sized are also seeing a trusted technology partner in Verinite with scale to back-up its expertise.
We are glad to be associated with such a client who not only entrusted in our values and differentiated proposition but also honoured our persistence hard work and perseverance.
Here comes the first victory of Q1 for Fiscal 2019-20. Passion, dedication and perseverance can conquer anything in this world and that is exactly driving Verinite’s expanding footprint in the emerging countries. Verinite is pleased to announce its new client win in Qatar. Client is first Islamic bank to start operating in the country and is one of the largest Qatari bank. They are stable financial group covering all segments of the financial markets, including individuals, government institutions, large corporations and SMEs providing innovative Sharia-compliant banking solutions.
Our client uses TSYS Prime platform for its credit, debit and prepaid cards business. Bank is embarking on a cards transformation initiative to upgrade its CMS platform to the latest version of TSYS (i.e. Prime V4) to remain consistent with its motto of being most customer centric bank. Verinite was chosen after an extensive process as client was looking for a one-stop solution that covers development, testing and certification. Our demonstrated experience of 8 cards migration programs (in last 24 months), deep TSYS expertise, proven expertise in handling Islamic card products and strong credibility as niche cards domain company proved to be the clincher.
Verinite will be responsible to manage the entire project which includes system architecture review, configuration, API customization, interfaces enhancement, reports modification and testing. This is another big win as it strengthens our positioning as preferred partner for cards upgradation and implementation programs.
With this win, Verinite will be serving its 4th client in country and covers banks with different card management system like PowerCARD and TSYS Prime. Team Verinite is excited to bring our innovative, quick footed, domain focused and empathy driven mindset to serve the banks in Qatar.
Verinite Perpetuate its trust and signs a deal of FV Platform Migration with India’s one of the Top 5 Private sector Bank
Verinite is extremely delighted to announce the signing of another deal on the credit card platform migration. We have helped our client in successfully launching their credit cards on First Data Vision Plus system and now will be helping them in their platform migration from Frankfurt to India Hub.
Client is among the Top 5 private sector bank in India that serves corporate, retail and SME banking customers with a comprehensive product suite of Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country. Bank has launched their credit cards products in 2016 and it is one of the fastest growing Credit Card portfolio in India. Bank is planning to migrate to a new upgraded platform which will allow them to provide better product offerings to their customers and also align with the RBI guidelines which mandates public data to be stored in India.
Verinite is selected by the Bank to support this migration project. As part of this project Verinite will be conducting Gap Analysis to identify changes in functions and process between source and destination platform. Verinite would be responsible for the project initiation, test scope definition, project co-ordination, interfaces, certification testing of this critical migration project. Verinite will also undertake functional and migration testing activities to ensure that new platform adhere to Bank’s requirement and no data loss or error in data migration process.
Team Verinite hopes to build on this win to serve more banks in India as they embark on technology transformation initiatives thus further strengthening the India growth story in Cards & Payments Space.
“Quality is the best business plan” Verinite again awarded for PowerCARD BAU Support from its existing client in Abu Dhabi!!
“Give trust and you’ll get double in return”, After completion of the successful migration project, Verinite is extremely happy to have gained their trust again and delighted to announce another signing of a deal to provide production support for HPS PowerCARD Application. Client is Public Joint Stock Company incorporated in the Emirate of Abu Dhabi, United Arab Emirates and is well recognized as a niche player that offers consumer and commercial finance and was recently awarded as the Highest Rating in Service Excellence Award.
We helped client in migration of its cards portfolio (credit & prepaid) from NI’s VisionPLUS platform to HPS PowerCARD platform (V3) by owning migration strategy definition & testing, end-to-end functional testing, interfaces testing and scheme certification with MasterCard. As natural extension after GO LIVE, Client was looking for partner to outsource the BAU support to improve the quality, agility and flexibility for its cards business. Verinite was a natural choice considering the expertise, experience and flexibility shown during migration project.
Verinite will be responsible for system configuration, defining templates for new products, develop/maintain interfaces, testing of issues/enhancements/compliances/CR’s, improving overall service delivery mechanism and guide business team in parametrization across suite of HPS PowerCARD.
As it is rightly said “The key is to set realistic customer expectations, and then not to just meet them, but to exceed them” and we at Verinite always deliver this as part of our famed delivery excellence strategy of “Verinite Advantage”. Team Verinite hopes to build on this win to serve more consumer finance companies and banks in Middle East as they embark on cards technology transformation initiatives.
Verinite signs deal to enable a successful Debit cards & Switching system transformation for a Top 10 bank in Philippines!!
Verinite is pleased to announce another strategic project win from one of our esteemed clients in Philippines. Our client bank is one of the top ten private domestic Universal bank in terms of assets, deposits, capital and return on equity. This project win strengthens our position as preferred partner for the cards projects with the bank.
Bank is currently on a transformation journey to enhance its core systems that includes migration from legacy debit processing platform to a new improved DCMS. The migration will be conducted in phased manner. The migration comprises of close to 1000 ATM handlers and 0.6 million card base including Prepaid as well as Debit cards. It’s a challenging project given the timelines and complexity to move away from a single source processing system to dedicated host processing system.
As part of this engagement, Verinite will be managing the entire program with total transformation initiative cost pegged at USD 5 million to ensure an on-time, within budget, seamless and issue-free implementation. Also Verinite will be owning up the data migration, functional, customization and interfaces testing stream. The scheme certification stream will involve getting certification for Visa, MasterCard and BancNet.
Team Verinite hopes to build on this win to serve more banks & finance companies in Philippines as they embark on cards business / technology initiatives. Salamat po !!
As always said “ Faith doesn’t make things easy, it makes it possible” and Verinite takes a stride into Kuwait with the faith of providing support and assistance to their Banks with technology services for Cards and Lending Business. We are making it possible by serving our first esteemed client in Kuwait. Customer is one of the fastest growing banks in the Kuwait, offering prominent services in Corporate, Private, Premium and Retail banking.
Verinite, has been entrusted to support the switching and debit card system (HPS PowerCARD application) which covers the analysis, testing and implementation support to ensure uninterrupted services to the bank’s customers. Our track record of successfully delivering HPS PowerCARD related projects for the client, our knowledge in the domain of cards and application expertise have proved to be the key differentiators.
Verinite is responsible for system configuration, defining templates for new products, develop/maintain interfaces, testing of issues/enhancements/compliances/CR’s, improving overall service delivery mechanism and guiding the bank’s team in parameterisation across the suite of HPS PowerCARD modules. Verinite expects to deliver its famed “Verinite Advantage” which will allow banks to solely focus on core activities, avail increased technical expertise, improve internal staff efficiency and realize cost savings.
It can be rightly said that “Trust and expertise” are the heart and soul of an enterprise, and success of a business depends on the connections you create and nurture. Now, it’s time to prove the value of our services and reassure the client of all the success they look forward to in all their endeavours. This first impression will set the tone for our relationship and possibly determine its future. And that is why a successful client being on-board is critical for building value and driving long-term customer satisfaction.
Verinite is proud to announce that we have been re-certified to PCI DSS standard v 3.2 Compliance level 1. The PCI-DSS certification annual audit was conducted by MKPSG, a leading Qualified Security Assessor (QSA). They examined our complete infrastructure, processes, policies for the Pune centre and confirmed that it was meeting with PCI-DSS compliance requirements. This means that our systems have yet again passed most rigorous information security requirements.
“It is a proud moment for Verinite to be recertified as a Service Provider (Level 1) under PCI DSS version 3.2. We are committed towards providing a highly secured environment for our customer’s data and the recertification helps to justify our commitment!” said our Head of Engineering, Sankhadeep Chakraborty.
“Complying to PCI DSS is quintessential for banks and for its vendors. PCI DSS re-certification gives re-assurance to all the clients that Verinite is more secure and trustworthy organization.” said Prasanna Chitale, Head of Innovation at Verinite.
Indus Software Technologies Pvt. Ltd a leading global provider of software products and solutions has entered into a global partnership with Verinite, a technology consulting and services company, to enable clients harness higher value by implementing Indus product Suite across emerging markets. This alliance will accelerate the implementation of innovative lending automation solutions and provide a faster turnaround, scale and higher value to Indus customers.
Verinite will provide services for application implementation, integration testing and support on Indus lending product suite. Verinite will leverage its proven experience of consulting, implementation and support in cards, payment and lending domain for emerging markets to deliver a differentiated experience across application life cycle. Together, we are confident of delivering faster, better and high quality implementations thus providing an unabridged 360 degree coverage.
Ashish Katkar, Managing Director, Verinite, said:
Customer centricity, nimbleness, flexibility and empathy driven approach have been corner stone of Verinite’s story. We saw similar values-driven approach with Indus. This along with our complementing skills, expertise and pedigree makes us potent combination for our clients and prospects. The emerging markets are going through a transformation cycle where banks want to implement innovative lending solutions to compete in the market space. This partnership will help all these clients to fast track the implementation life cycle and provide high quality on-going support.
Raj Swaminathan, Executive Director & CEO, Indus Software, said:
It was a natural fit for us to partner with Verinite as they have extensive implementation experience in the banking and lending solutions. Verinite also comes in with competency to leverage geography specific talent in emerging markets where Indus is also witnessing huge demand for its solutions. We are confident that with this partnership Indus with ramp up its implementation capability and will offer a sustained value proposition to its clients.
Founded in 1990 Indus offers a specialized suite of products and technology solutions for Banking & Finance, Telecom and Insurance Industries. Our innovative enterprise level loan origination, receivables management and debt management solutions are trusted by over 100 plus clients spread across 50 plus countries. With our deep domain understanding and through our learnings from industry best practices we continuously enhance products to deliver the most relevant solutions to our clients. Headquartered in Pune and with development centers in Chennai and Pune we support 150 plus implementations across the globe.
For more information, visit www.indussoft.com
Verinite is a Consulting & IT services company catering to the clients in the banking domain. The core domain expertise is concentrated towards cards, payments and lending solutions. Verinite defines, designs, manages, develops, tests and delivers technology enabled business solutions. Verinite has its offices in India and the UK. We are currently supporting banks and financial institutions in emerging markets – South East Asia, South Asia, Middle East & East Africa.
For more information, visit www.verinite.com
Verinite signs up with a leading bank in Sri Lanka to support a strategic cards business initiative!!!
Verinite signs its 2nd customer in Sri Lanka to support one of the strategic initiative for cards business. Client is a licensed commercial bank headquartered in Colombo offering products to retail, corporate and SME segments.
Our client has recently launched credit cards on Euronet Platform. It has taken up an important strategic initiative with Visa / MasterCard with launch scheduled in last quarter of year 2018. Bank was looking for a partner who could handhold them through this complex launch process, test the new system, manage certification and define business operations processes. Verinite was chosen as the trusted partner to support this strategic program. Our demonstrated experience of system implementations, deep Euronet system expertise and proven credibility as cards domain player proved to be the clincher.
Verinite will be responsible for system configuration, implementation strategy definition & testing, end-to-end functional testing and interfaces testing for this project. This is another big win as it strengthens our positioning in Sri Lanka as preferred partner for cards initiatives / programs.
Team Verinite hopes to build on this win to serve more banks & finance companies in South Asia as they embark on cards business / technology initiatives.
New year brings joy and happiness so do we; Verinite Labs is happy to launch a new addition to its product line called Veribot™! Imagine it as an army of Robots doing the tasks on your computers efficiently and yet invisible to your eyes.
With this product Veribot™ you can name a task that can be automated on a computer and we will deploy a Verinite Robot i.e. Veribot™ to do it. Veribot™ diligently offers its services to a plethora of banking financial functions, processes & day to day activities. May it just be a laborious task of vast amounts of data entry or time triggered events without human intervention. You can think of Veribot™ as a Digital Workforce that features characteristics of code-free, operator friendly, increased efficiencies, detailed data capture, & improved Compliance.
Veribot™ is our solution to the growing needs of process automation, avoid manual errors, ginormous repetitive tasks to be carried out without a human intervention. Veribot™ product precisely works on these lines and the best of all it can be customized to customer needs and trained robots will do the work, simple! Verinite Labs has developed this product keeping in mind all of the above needs. So we are proud to say that its more than just a COTS solution. It has numerous usages and unlimited capabilities. Markets are more demanding and they are demanding more and more by not just automating one process but to be able to modify it if needed from time to time with minimum technical knowledge & IT support. Our product is business user friendly designed to provide these kind of solutions. Veribot™ allows organizations to manage process automation with greatest ease from a central server with multiple robots operating at several individual desktops.
You have a system or a process no matter small or large that requires automation our experts can help you provide a customized solution to best suit your needs. Providing ample opportunity to define and getting a flexible solution that is fit for purpose with ease of use. IT’s an enterprise solution that will increase efficiency & provide cost savings. As per studies carried out it showcases an approximate costs savings of 35-60 %. With the early time to recover costs this solution becomes profitable in no time. Seamless integration to other satellite systems and compatible with other products and AI solutions too.
So what are you waiting for? If you have computer processes that consumes efforts and cyclic in nature we can solve it for you. Freeing up your resources for a greater use. Let’s get ready to automate – Veribot™ is your solution !!
Readers Stay Tuned for the Q&A Session by our Head of Engineering for more details about the product!!!
Verinite signs up with consumer finance company in Abu Dhabi to support credit and prepaid cards migration onto HPS PowerCARD
Verinite signs its 2nd customer in United Arab Emirates to support credit and prepaid card migration. Client is Public Joint Stock Company incorporated in the Emirate of Abu Dhabi, United Arab Emirates and is well recognized as a niche player that offers consumer and commercial finance, as well as proprietary investing.
Our client has outsourced processing of its credit and prepaid cards to a third party payment processing company in UAE. The current portfolio includes both conventional and Islamic products. Client made a decision to insource the cards processing to leverage the latest technology CMS platform and bring greater control to deliver above industry average growth for cards business. This meant migration from VisionPLUS on to its chosen platform HPS PowerCARD.
As client will be insourcing the cards processing, they were looking for a partner who could handhold them through a complex migration process, test the new system (Conventional & Islamic both), manage scheme certification and define/refine operations business processes. Verinite was chosen as the trusted partner among the strong group of vendors to support this transformation program. Our demonstrated experience of 6 cards migration programs (in last 24 months), deep PowerCARD expertise, proven expertise in handling conventional and Islamic card products and strong credibility as card domain player proved to be the clincher.
Verinite will be responsible for system configuration, migration strategy definition & testing, end-to-end functional testing, interfaces testing, scheme certification with MasterCard and load testing for the credit card and prepaid cards portfolio. This is another big win as it strengthens our positioning as preferred partner for cards migration and implementation programs.
Team Verinite hopes to build on this win to serve more consumer finance companies and banks in Middle East as they embark on cards technology transformation initiatives.
Verinite signs a long term TSYS Prime BAU Support deal with the 2nd biggest state owned bank in Sri Lanka
Verinite is glad to announce signing of a long term deal to provide production and BAU support for TSYS Prime application. Client is a state owned commercial bank in Sri Lanka established in 1961. The Bank offers both Retail and corporate Banking services including Online Banking and mobile Banking.
Our client uses TSYS Prime v4 as technology platform for its cards business. Bank was looking for partner to outsource the BAU support to improve the quality, agility and flexibility for its credit cards business. Verinite was chosen as BAU partner after an elaborate RFP process. Our track record of successfully delivering TSYS Prime related projects for the client, cards domain knowledge and application expertise proved to be the key differentiators.
Verinite will be responsible for system configuration, defining templates for new products, develop/maintain interfaces, testing of issues/enhancements/compliances/CR’s, improving overall service delivery mechanism and guide bank’s team in parametrisation across suite of TSYS modules. Verinite expects to deliver its famed “Verinite Advantage” which will allow bank to focus on core activities, avail increased technical expertise, improve internal staff efficiency and realize cost savings.
Team Verinite hopes to build on this win to serve more banks in Sri Lanka and neighbouring South Asian countries as they embark on cards technology transformation initiatives.
Project is to support bank with Quality Assurance on PowerCARD platform and digital channels
Verinite is glad to announce signing of a new client in Qatar. Client is Qatari-owned financial institution that serves individual consumers, small businesses and corporate customers with a range of Corporate Banking, Retail & Private Banking, Treasury & Investments, International Banking and Brokerage Services.
Our client uses HPS PowerCARD platform for its debit, credit and prepaid card business. Bank is currently embarking on turnkey initiative to incorporate an important regulatory requirement that needed extensive functional testing of the entire cards technology ecosystem. Verinite was chosen as testing partner after an elaborate RFP process. Our cards domain knowledge, PowerCARD expertise, track record of delivering successful projects in Qatar and client references proved to be the main differentiators.
Verinite will be responsible for functional and non-functional testing of the core PowerCARD platform along with all channels to ensure successful implementation of the project. Team Verinite sees this challenging project as an excellent opportunity to develop this new relationship into an opportunity to build full-fledged Testing Centre of Excellence for the client supporting testing across its enterprise wide applications.
This is 3rd client for Verinite in Qatar thus further strengthening the Middle East growth story. Team Verinite hopes to build on this win to serve more banks in Qatar and neighbouring GCC countries as they embark on cards technology transformation initiatives.
Verinite wins deal to migrate the switching and DCMS system for Top 5 private sector Indian Bank!!
Verinite is glad to announce winning of debit cards and ATM migration deal for India’s private sector bank. Client is among the Top 5 private sector bank in India that serves corporate, retail and SME banking customers with a comprehensive product suite of Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country.
Bank is embarking on a technology transformation initiative to replace the current debit card management system (DCMS) and switching system. This migration comprises of close to 2 million debit cards and 1800+ ATM’s. The migration is from a complex multiple switch environment to a single switch. As part of this migration, bank will migrate its DCMS and ATM driving to the new switch. An array of scheme certifications will also be required with Visa, Mastercard and NPCI as part of this migration.
Verinite is selected by the Bank to support this migration project. As part of this engagement Verinite will be responsible for project initiation, test scope definition, project co-ordination and pre-validation for scheme certification activities. Verinite will also undertake functional and migration testing activities to ensure the new Switch and DCMS system adheres to Bank’s requirement and no data loss or error in data migration process.
This is 4th win for Verinite in the DCMS and Switching space thus further strengthening the India growth story. Team Verinite hopes to build on this win to serve more banks in India as they embark on technology transformation initiatives.
Verinite enters Philippines Market with its 1st client win to support cards and switch migration for a Bank!!!!
Kumusta Philippines !!! Verinite is glad to announce its entry into Philippines Banking market with first client win. Client is among the Top 5 Banks in Philippines serving the retail, commercial, corporate and institutional customers.
Bank is embarking on a cards transformation initiative to move onto a modern platform to remain consistent with its motto of being most customer centric bank. Verinite was chosen as partner after an exhaustive selection process comprising of 5 different international vendors.
Verinite will be responsible to manage this entire program of migrating 0.5 million credit cards portfolio with the total transformation initiative cost pegged at USD 6 Million. Also Verinite will be owning up the data migration, functional, customization and interfaces testing stream. The scheme certification stream will involve getting issuing/acquiring certification for Visa, MasterCard and BancNet.
This is huge win for Verinite as it expands its base in the ASEAN region. Philippines will be the 4th country being served in ASEAN by Verinite apart from Vietnam, Indonesia and Malaysia. Team Verinite is excited to bring our innovative, quick footed, domain focused and empathy driven mindset to serve the banks in Philippines.
Verinite meets stringent security standards for payment card services with PCI DSS Certification V3.2
Verinite is thrilled to announce that it has been awarded the Payment Card Industry, Data Security Standard (PCI DSS) certification V3.2 at Compliance Level 1. This means our systems passed the most rigorous security requirements PCI DSS has to offer and complies with the stringent data security standards set by the payment card industry for handling sensitive financial information.
The certification process included a detailed examination of Verinite’s infrastructure, applications, departments and relevant processes, as well as the existing security features and strict data protocols. Verinite was found to be one of the few companies of its kind to fully comply with the PCI DSS requirements within such short period of time. The comprehensive audit includes document collection and analysis, vulnerability scanning and penetration testing as well as regularly recurring scans throughout the year. The security assessment was conducted by MKPSG, a leading Qualified Security Assessor (QSA).
“We want our clients to know we are dedicated to complying with and exceeding the requirements established in the PCI standards. Verinite is focused on continuously improving its services, systems and operating practices to address evolving threats and changes to the PCI standards.” Said by Sankhadeep Chakraborty, Head of Engineering of Verinite.
“Being PCI DSS compliant demonstrates the importance we place on securing our client’s data. This certificate is a result of all the hard work Verinite has put into making its infrastructure, policies and processes secure. This is the latest step in our commitment to provide reliable, stable, innovative and secure services to our clients” said Ashish Katkar, Co-Founder of Verinite.
Marhaban !!! Verinite signs its 1st customer in Oman !!
Customer is one of the fastest growing bank in the Sultanate of Oman, offering Corporate banking, Consumer banking, Treasury and Project Finance services. Verinite has been entrusted to support the switching and debit card system (HPS PowerCARD application) to cover analysis, testing, implementation support to ensure uninterrupted services to the bank’s customers. This kick-starts Verinite’s journey in Oman while we continue to grow in Qatar, UAE and Bahrain. This win makes it 7 customers for Verinite in the GCC region.
Hurray Hurray!! Verinite signs up another customer in India!!!
Verinite has signed up with a private sector bank headquartered in Mumbai to support the platform migration for its credit cards business.
The client had launched credit cards in year 2008 after choosing to outsource the card processing to one of the global giants. Bank would now be migrating its entire credit card base onto a different platform of the same processor. Verinite would be responsible for the data migration, interfaces, certification and functional testing of this critical migration project. This win strengthens Verinite’s position as preferred services partner for cards related projects for banks in Asia.
Verinite bagged one more deal from gulf region!!
Verinite signed one more contract from the gulf region!! Client is a leading financial organization headquartered in Dubai, United Arab Emirates.
Through this engagement, Verinite would be responsible for independent testing of the legacy, web and mobile applications used by the client to enable its credit / prepaid card business. Verinite will be providing software application testing services which covers functional, non-functional and automation testing to ensure technology platforms are reliable, secure and scalable.
Verinite bagged this deal on the basis of exemplary and unique domain as well technology noesis, pool of expertise on previous similar assignments and unrivalled collaborative mindset. This engagement would add one more gem to Verinite`s growing Middle East clientele tally as well expand its value proposition and outreach in MENA region.
Hurray!! Verinite signs up with one of a Top 5 Indian Retail Bank for their business critical technology rollout!!
David and Goliath story reprises again as Verinite literally clinched a deal from mighty banking technology service providers and hence is entrusted by one of a top 5 Indian retail Bank to own up their impending credit cards launch.
The client (Bank) is a veteran Indian retail biggie who would want to foray into credit cards business and hence thoroughly evaluated Verinite (a flourishing start-up) against leading Banking technology service providers. Verinite stood tall and was chosen amongst all mammoths for its outmatched and successful track record to own and deliver winning card system engagements across industry leading card platforms.
Undoubtedly, Verinite is turning out to be a huge contender for leading Banking technology service players in market today, especially for technology transformation engagements, as it is proving handy in Consulting as well Technology rollouts and is been delivering value proposition via its affiliation. Testimony to which, now Big Banks along small to mid-sized are also seeing a trusted technology partner in Verinite.
We are glad to be associated with such a Bank who not only entrusted in our values and differentiated proposition but also honored our persistence hard work and perseverance.
They came, they saw and they concurred our hearts!! – A recent visit to Savali, an NGO, home to 35+ spastic children
“God does not give special kids to special parents, He takes ordinary, imperfect people, and gifts them with his greatest treasures, And therein, he creates special parents!!”
We Verinitians, felt being special parents last Saturday, especially chosen by almighty, as we visited and met our new friends from ‘Savali’ an NGO, home to 35+ spastic children. They truly concurred our hearts as we spent quality time, interacted and participated in fun activities with them.
As they say, “There are no seven wonders of the world in the eyes of a child. There are seven Million!!” – We were able to touch upon some of these seven million wonders through these children’s eyes, So it be Dharmesh – who could not walk and think like us since childhood, but he’s got guts to express his love and passion towards Dancing and he did it so in his style. The myriad stories of VIP (a cool character who loves to share anecdotes) were never ending but, it would make you think, if they are true or just stories. For Rani, she might not know who were we for a while, but once she knew we were friends next door, she allowed us to interact with her, requested us to offer her a glass of water (an activity she would usually do herself) and as we were to go, she cried ceaselessly holding our hands as if we would never ever return, leaving all us with teary eyes and a thought hovering our mind – I ain’t gonna end this here, this is just the onset as I am definitely going to return!!
Above mentioned characters are real, they are human, just like us but were left marooned by parents/society/friends and many known/unknown Hippocratic thinkers by not believing in these children and themselves. We @ Verinite just wanted to make a difference – an effort to walk a step forward and reach out to these special children, share some time and interact with them. We were extremely satisfied after this visit, as we played with our new friends for hours, sponsored a lunch for all and finally assisted them financially. Although, this is just the beginning, as we are planning to return and meet our friends on a periodic basis to keep their dreams afloat and alive. If our action is urging YOU in you and churning your thoughts to plan such activities/visits, we would feel gratified for inspiring others!!
Check out some memoirs of this visit here http://on.fb.me/1LY2KlA
Grabbed a client deal in Qatar!!
Verinite is once again chosen for a key technology transformation initiative by a leading Islamic Bank based out of Qatar. Verinite, today being a differentiated technology, consulting and services provider in BFSI and especially Cards domain is entrusted upon by the Bank to manage and accomplish a successful migration of debit, credit and ATM`s portfolio onto a new Card management system.
With tremendous demonstrated expertise into industry leading card management systems such as Tsys PRIME, First Data VisionPlus, HPS PowerCARD and GFG Cadencie; Verinite is confident to drive this card migration project successfully and assist Bank for this important technology roll out. Client is a leading Islamic bank based out of Qatar which offers personal and corporate Islamic banking solutions to its growing customer base remains true to its Qatari heritage and values.
Verinite has been successfully collaborating with banks in the emerging economies for their cards technology transformation programs and this win is another affirmation of company’s expertise in cards domain.
And the party begins !! – Verinite turned 4 year old
Verinite turned 4 year old this June and celebrated it by organizing a grand party for all employees along their families. The venue was famous â€œCountry Clubâ€ in western hills of Pune with a backdrop of lush green garden and eye catching sceneries. It was a RED Carpet theme, hence all Gentlemen were dressed up in Suits and Ladies were wearing beautiful one piece.
Our Director and Co-founder Ashish shared memoirs of his baby who turned 4 year old today and thank all employees for their contribution in raising this child Verinite.
The party began with some nice welcome drinks along chill breeze setting the mood for evening. It was followed by few mesmerizing games like â€˜How well you know your colleagueâ€™ and â€˜Train gameâ€™ where we were blind folded boogie of a human train with Ashish being our Engine. Ashish`s role was to guide us and ours was to collect as many objects as possible along path. We never realized, our day to day work could be explained in any other better way! These games allowed us to understand each other better and we had fun knowing power of team work.
Games were followed by cake cutting ceremony. Ashish also opened bottle of Champagne to wish everyone good future ahead! Now itâ€™s time to rock the floor and verinitians rocked it for hours before ending the evening with yummiest Chicken curries, Biryanis, Paneer dishes and mouth melting Gulab jamuns.
The unforgettable evening was worthwhile as we all found our extended families!
Verinite wins a major consulting assignment to lead a card system transformation engagement for Vietnamese Bank
Verinite has been exclusively focused on bringing together banking domain, technology and business expertise for banks and finance organizations in emerging economies like ASEAN. Verinite has signed-up with a one of the fastest growing bank based out of Hanoi, Vietnam. The bank has grown dramatically (since 2010) with the development and implementation of the strategic transformation program and has chosen Verinite to lead the card transformation initiative.
As part of this engagement, Verinite has been entrusted with the responsibility to identify, select and implement the right platform for its cards business (credit + debit + prepaid). Also, Verinite will review and refine banks business model, including operational work streams to develop an overarching credit cards growth strategy.
Verinite’s mandate includes developing the transition framework, creating and communicating transition principles, and conducting vendor evaluation to enable banks transition from multi-system legacy infrastructure to an integrated cards platform.
Verinite shifted to a new state-of-the-art facility at one of a premier location in Pune!!
Verinite relocated to a new office.
‘Come to the edge,’ he said.
They said, ‘But we’re afraid.’
They came. He pushed them,and they flew.
This depicts Verinite`s journey so far which embarked 3 years back with a small office space and staff to a state-of-the-art facility at one of a premier location in Pune with ever expanding talent pool. This transformation testifies our investment in personnel development, infrastructure and continual research returned awesome dividends along carving a path for progressive growth.
The new equipped office space is full of vibrancy, energy and enthusiasm which already visualized few contracts getting signed. It sits near to the heart of the city and is better connected to IT hubs around.
Verinite would like to dedicate this positive transformation to all verinitians who knew that ‘the biggest mistake they could ever make is to be afraid of making one’, who never waited for an opportunity to knock the door and instead were better prepared when it did, and who always went a mile further, sometimes even a little berserk to win a race.
We would like to show our gratitude to all folks for standing beside us in all peaks and abyssal, and to make us a better unit. Let us celebrate life @ Verinite!!
Verinite attends the NASSCOM Product Conclave 2014 in Bangalore
Verinite attended the NASSCOM’s flagship event for the product community – NASSCOM Product Conclave 2014 held in Bangalore, India.
The event gave a lot of insight into the current industry trends, product innovations and start-up culture in India and abroad. It allowed companies like Verinite to connect with other companies and share their experiences about the entrepreneurial journey.
Verinite signs its first client in Qatar
Verinite is excited to share a new client win in Qatar which is a coveted first footprint in Qatari market.
Verinite would be providing Consulting, BAU Support and Testing services on PowerCARD application (used by banks for its credit card business) to the client. Client is one of the top Islamic bank, specialized in providing Sharia compliant products and services in Qatar.
Verinite was chosen as strategic partner due to its card & payment domain expertise, Islamic banking know-how and proven experience on PowerCARD application. Another gem added to Verinite’s Middle East clientele tally!!
Verinite signs an emerging mobile payment company in India
Hooray !!! Verinite is elated to sign-up with an emerging mobile payment’s company in India.
Client`s digital wallet mobile application allows person-to-person payments enabling individuals to pay using phone.
Verinite has been chosen as the technology and information security services partner playing a key role in ensuring the solution is reliable, secure and scalable. This win re-asserts Verinite’s expertise in designing meticulous payment systems, enabling cutting edge technologies and assuring the highest level of security.
Verinite is proud to be selected as “50 Cool Startups of the Year – 2014” in India by Silicon India Magazine
Verinite is proud to be selected as “50 Cool Startups of the Year – 2014” in India by Silicon India Magazine. A distinguished panel of CIO’s, CTO’s and VC’s including Silicon India’s editorial board scrutinized the companies to highlight the coolest ideas meeting the future needs of industries.
Verinite’s financial performance, niche BFSI industry focus, clientele in emerging economies (Africa, Asia Pacific, Middle East) and innovation-led solution approach impressed the panel. Verinite has been featured in the July 2014 edition of the magazine along with some of the other cool start-ups like Power2SME, Olacabs etc.
This award is great “pat-in-the-back” from the industry and it motivates us further to pursue our dreams to disrupt the BFSI IT services space through new models, solutions and collaborative approach.
Verinite signs-up with an Indian Product company in Cloud-based data management solution space to setup an independent QA Vertical
Verinite is proud to announce our new client, a B2C product company based out of Bangalore, India. Client is developing a cloud based data management solution which works as single window to all cloud providers. Verinite engagement with client involves setting up an independent testing vertical wherein Verinite will be responsible for providing functional, compatibility and regression testing for the product suite. Additionally Verinite would be responsible for identifying and implementing test automation initiatives.
With this win, Verinite aims to serve India based early-stage product companies by offering outsourced product development/testing services.
Jambo Africa !!! Verinite kick-starts African Journey with Signing of 1st customer in Kenya
Jambo Africa !!!! Verinite is glad to announce its entry into East Africa with signing of it’s 1st African Client. The client is a medium sized retail bank that caters to both individual and corporate customers. Verinite’s engagement involves supporting banks foray into the credit card market for the East Africa region by providing consulting, business analysis, L2 support and testing services on client’s card management system (TSYS Prime).
This win allows Verinite to strengthen its focus on the East African market and deliver transformational solutions for our clients in core banking, cards, payments, lending, mobility and information security domains.
Verinite enters into strategic partnership with Applied Principles for East African region
Verinite is pleased to announce a strategic partnership with Applied Principles Consulting in Africa. Through this partnership, Applied Principles and Verinite would jointly serve the Consulting & IT Services needs of the banking and financial services industry in East Africa.
This partneship allows Verinite to establish a foothold in Africa that is among the faster growing markets worldwide when it comes to deployment of IT and possibly the last major economically untapped region.
Verinite participates in the NASSCOM Product Conclave 2013 in Bangalore
Verinite attended the NASSCOM’s flagship event for the product community – NASSCOM Product Conclave 2013 held in Bangalore, India.
NPC 2013 was about celebrating Indian products and startups, learning to grow startups into massive organizations, listening to experiences of visionary leaders, and getting exposed to new ideas and people that expand horizons. This forum provided an excellent opportunity to organization’s like Verinite to learn, get inspired and connect with industry.
Verinite announces a new win for strategic consulting services in cards for a Islamic Bank
Verinite is proud to announce its new win in South East Asian market. The client is a leading Islamic bank in Malaysia known for its Shariah compliant innovative banking products.
Verinite’s engagement involves rigorous data driven and analytical approach to study cards’ system topology in light of 5 year business plan and strategical objectives of the client bank.
Verinite’s objective recommendations will help client to transform its business, technology and operational capabilities. This will be further augmented by variety of transformation related IT services.
This win demonstrate confidence bestowed by clients in Verinite’s domain expertise and regional focus.
Verinite introduces “1GOAL™” – a new age engagement model driving accountability and result-based relationship with clients
Verinite is pleased to announce its new age engagement model “1GOAL™”, wherein client will pay for the results and not for the effort, time or manpower deployed for achieving those results. This model provides client an appealing option as Verinite becomes stakeholder in the engagement and hence accountable for the results.
The “1GOAL™” model is based on the principles of ownership, accountability and collaboration. Traditional engagement models like effort-based Time & Material or output-based fixed-fee do not satisfactorily meet the current client needs for vendor control and budget management. The “1GOAL™” model ties success with clear and measurable outcomes, thus allowing client and Verinite to focus on same goals (one goal) as true partners.
Through “1GOAL™”, Verinite is looking at forging a value-based and productive long term relationship with its clients. It is right time for new age of result-based solutions and accountability.
Verinite foray’s into South East Asia Market with signing of its first client in Vietnam
Verinite is proud to announce its first client win in Vietnam. The client is one of the most innovative, customer-centric and top four rated joint stock commercial banks in Vietnam.
Verinite’s engagement with client spans across a gamut of services encompassing Information Security, Card management application maintenance and Infrastructure Management.
This win allows Verinite to strengthen its focus on the South East Asian market and deliver transformational solutions for our clients.
Verinite participates in the NASSCOM EMERGEOUT Conclave in Pune
Verinite participates in the 1st edition of the NASSCOM EMERGEOUT Conclave Pune organized on 12th October 2012. NASSCOM (National Association of Software and Services Companies) is a trade association of Indian IT and BPO industry.
EMERGEOUT Pune 2012 was about participation of companies from the product, mobility, services space and offered a platform for peer-to-peer networking, best practices sharing, opportunity to learn from each other’s successes and failures. The conference discussions focussed on whitespaces in Cloud, Mobile, Big Data and Consumer Businesses for Indian entrepreneurs and the opportunities for growth in Emerging Markets like Africa.
Verinite signs its first client in UK
Verinite is proud to announce its first client win in United Kingdom. The client is a mobility solutions provider to the European market catering to financial services and retail domain.
Verinite has been chosen as testing services partner for providing functional and security testing services for entire suite of client’s product line.
Verinite signs a top worldwide travel, financial and network services company as client
Verinite signs its third client in Bahrain. The client is a worldwide travel, financial and network services Company and a much respected, popular brand in Middle East.
Verinite will assist client in driving and implementing key strategic initiatives in Information Technology (IT) and Information Security (IS) space.
Verinite attends the 5th BFTF Conference in Mumbai
Verinite attended the 5th Banking, Finance and Technology Forum (BFTF) conference in Mumbai on 13th & 14th June 2012. The BFTF is India’s premier financial services, technology conference, with an objective to bring together key stakeholders in banks, financial institutions, ISV’s and IT/ITeS companies under a roof, allowing them to share, learn and network.
This year’s event focused on areas like mobile banking, reshaping business intelligence and analytics landscape, changing face of technology investment, building information security culture, re-engineering business process through social media and achieving IT led business transformation.
Verinite signs with an International GCC Bank
Verinite signs with an International GCC Bank. The client provides corporate advisory, asset management and investment banking for GCC markets.
Verinite will assist client with consulting services to implement key strategic initiatives in Information technology (IT). The domain areas include credit cards, core banking, leasing, CRM, BI and trade finance.
Verinite broadens its service offerings by venturing into Information Security space
Verinite signs a strategic partnership with we45 to leverage competencies of both organizations to create greater value and more efficiency for clients. This strategic relationship will bring together Verinite’s expertise in Consulting & IT Services for Banking domain and we45’s expertise in Information Security Consulting, Testing and Training to create competitive advantage for clients.
The partnership will further enhance Verinite’s capabilities within the Banking sector, as well as increase Verinite’s commitment to the Information Security.