VuNet Systems: A next-gen analytics & full stack artificial intelligence company – Hindustan Times

  • Lauren
  • June 8, 2021
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The digital revolution in India fueled by the onset of Unified Payments Interface (UPI) in the year 2016 paved a new way for digital payment transactions which also set the pace for financial inclusion in India. The Covid-19 pandemic further boosted a rise in digital payments at a scale never witnessed before. For the year 2020, India tops the world in real-time payment transactions in the world with 25.5bn transactions.
The push via digital initiatives and the Covid-19 pandemic has encouraged customers to adopt digital payment transactions replacing traditional modes of transacting with financial institutions and enterprises widely. The increased adoption also comes with the challenges of rising customer expectations of seamless, smooth, successful transaction experience. Added to these, financial institutions are facing the problems of a complex silo-ed IT landscape resulting from their digital transformation initiatives which is further strained by an unprecedented increase in digital transactions volume, very new to banks. In an evolving and increasingly competitive market of digital payments, any failure is a cause for potential customer churn and loss of revenue for financial institutions.
Ensuring seamless customer experience and reducing transaction failures emerge as hygiene factors for enterprises. A single payments transaction touches various applications and infrastructure in an enterprise and to avert any failure and provide customer’s a smooth transaction experience is only possible by having a complete visibility across the customer’s business transaction journey.
vuSmartMapsTM, VuNet’s unified business journey monitoring platform based on AI and ML, provides a unified view across the legs of the transaction journey that traverses a complex web of applications and infrastructure in an enterprise. The visibility provided by the platform makes enterprises proactive in identifying issues in any of the journey legs, perform root-cause analysis which helps in reducing transaction failure and enhancing customer experience. With ML, the platform provides vastly improved actionable insights to the business and IT operations team.
VuNet’s platform empowers different customer personas from IT Operations to Business CXOs to simplify their business analysis and help them see the story behind any incident or transaction, with powerful correlational algorithms, storyboarding features, and intelligent alerts. The platform enables both operational and business needs to be addressed through its analytics and is truly futuristic in terms of delivering to monitoring the business outcomes as opposed to traditional problems of availability, performance etc.
VuNet is helping the largest financial institutions to improve their digital payment experience, driving more financial inclusion across the country by monitoring various payment transactions such as Instant Mobile Transfer, Immediate Payment Service, Real-time Transfer Payment, Automatic Clearing House, Real-time Gross Settlement etc. The platform is predominantly deployed in Payment Gateways, Banks and Financial institutions and the customers include the largest payment processor in India, largest retail private bank, one of the largest MSP /telco providers and a leading Banking product OEM. On an average, the platform monitors over 2.5 Billion digital transactions.
VuNet is listed in Gartner’s Market Guide for AIOps, also listed by Gartner in the Cool Vendor and Cool Vendor Asia and in their latest MLOps report. They are a part of Microsoft Scale-up initiative for Startups and recently recognized by Ministry of MSME, Govt. of India as the ‘Best Technology in Payment Gateway’ as part of its #Time2Leap initiative. They have been recognized as a winner of India 500 most promising IT Companies of 2021 by INDIA 5000 Business Awards. VuNet is also inducted into the NASSCOM DeepTech Club for the 2021 cohorts.
Disclaimer: This is a company press release. No HT journalist was involved in the creation of this content.

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Source: https://www.hindustantimes.com/brand-post/vunet-systems-a-next-gen-analytics-full-stack-artificial-intelligence-company-101623152655059.html