FTL Technology Systems Private Limited

paymentssoftware/whitelabel/apis-payments

FOUNDING YEAR: 2014
LOCATION: India
Last Update: 01/05/2020

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About

FTL Technology Systems Pvt Ltd is founded by people who have extensive experience in Banking, Telecom and Banking Technologies and have held senior roles in HDFC Bank, Vodafone & Oracle. We are creating a digital engagement platform for banks and financial institutions to drive customer usage and retention. The platform has e-commece price search, product curation and powerful behaviour analytics to enable real time up-sell and cross-sell of financial products. The recommendation can catalogue partner bank/ FI products and do realtime lead generation and closure

MEDICI Analysis

FTL Technology Systems offers Paymetry brand that provides consumers with safe & simple solution for all their online financial transactions services:

Focus

PRODUCTS & SERVICES

1. E-commerce enablement 2. White labelled recommendation engine 3. Captive payment system 4. Analytics and usage behaviour prediction

REVENUE MODEL

The revenue model is basis the cross-sell and up-sell volume of banking products done through us. Also since the platform has e-commerce roots there is an opportunity to monetise the existing traffic of the partner bank/ FI

PRIMARY PROBLEM SOLVED

We are solving the problem for both the banks as well as the end customer. Banks wants to increase retail loan penetration and this often leads to spending more on existing channels which are predominantly offline (eg: DSA) and leads to operation inefficiencies. Also the new age lending platforms and NBFC's also pose a great challenge to banks as a whole. Our platform works as an additional digital channel for disbursing retail loans by better monetising the existing organic traffic the banks have. This also helps the banks to get an outside-in view of the customer due to the data that gets generated on the platform. For the end customer we are solving the eco system problem. Currently he/ she has a banking relationship but loans/ credit cards etc due to a variety of reasons are spread across multiple players. Also he has to do multiple documentations for availing credit ( eg: consumer durable loans). Our platform can give him/her his eligible offers in real time and basis the relationship with the bank the customer can avail the services with minimal fuss and documentation. Going forward utilising India stack and alternate credit underwriting methodologies (we expect to tie-up with capable vendors for this) the disbursement can be seamless and instantaneous. This will enable the customer to avail credit at the time of requirement and will eliminate the long planning process which is normally involved

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$0 - $99k

TRANSACTIONS VALUE:

1 K

ACTIVE USERS:

100000

ACTIVE USERS COMMENT:

We are proud to have 4 mid to large size financial institutions already signed up including some of the largest in India with Phase 1of our product 1. ICICI Bank 2. Axis bank 3. UAE Exchange 4. The South Indian Bank Development is underway for launching with three other private sector institutions.**

People

BOARD MEMBERS AND ADVISORS

Shilen Sugunan

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

Meiappan Palaniappan

COMMENT:

1. The founding team comprise of people with expertise in banking, telecom,banking technology. An ideal mix for the product that we are developing 2. We are extremely choosy in hiring,considering the founder back grounds - we have managed to have some real talented team to work with us

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$500 K

USES OF FUNDS RAISED:

1. Product development

2. Sales & Marketing

3. Talent Acquisition

MONTHS LEFT WITH CURRENT CASH BURN RATE:

18 months from 16 Nov, 2018

Innovation Programs

BASICS

FOUNDING YEAR:

2014

LOCATION:

India

Views:

132 VISITORS | 246 VIEWS

About

FTL Technology Systems Pvt Ltd is founded by people who have extensive experience in Banking, Telecom and Banking Technologies and have held senior roles in HDFC Bank, Vodafone & Oracle. We are creating a digital engagement platform for banks and financial institutions to drive customer usage and retention. The platform has e-commece price search, product curation and powerful behaviour analytics to enable real time up-sell and cross-sell of financial products. The recommendation can catalogue partner bank/ FI products and do realtime lead generation and closure

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

FTL Technology Systems offers Paymetry brand that provides consumers with safe & simple solution for all their online financial transactions services:

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

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FTL Technology Systems Private Limited

About

FTL Technology Systems Pvt Ltd is founded by people who have extensive experience in Banking, Telecom and Banking Technologies and have held senior roles in HDFC Bank, Vodafone & Oracle. We are creating a digital engagement platform for banks and financial institutions to drive customer usage and retention. The platform has e-commece price search, product curation and powerful behaviour analytics to enable real time up-sell and cross-sell of financial products. The recommendation can catalogue partner bank/ FI products and do realtime lead generation and closure

Focus

PRODUCTS & SERVICES

1. E-commerce enablement 2. White labelled recommendation engine 3. Captive payment system 4. Analytics and usage behaviour prediction

REVENUE MODEL

The revenue model is basis the cross-sell and up-sell volume of banking products done through us. Also since the platform has e-commerce roots there is an opportunity to monetise the existing traffic of the partner bank/ FI

TOP PROBLEM SOLVED

We are solving the problem for both the banks as well as the end customer. Banks wants to increase retail loan penetration and this often leads to spending more on existing channels which are predominantly offline (eg: DSA) and leads to operation inefficiencies. Also the new age lending platforms and NBFC's also pose a great challenge to banks as a whole. Our platform works as an additional digital channel for disbursing retail loans by better monetising the existing organic traffic the banks have. This also helps the banks to get an outside-in view of the customer due to the data that gets generated on the platform. For the end customer we are solving the eco system problem. Currently he/ she has a banking relationship but loans/ credit cards etc due to a variety of reasons are spread across multiple players. Also he has to do multiple documentations for availing credit ( eg: consumer durable loans). Our platform can give him/her his eligible offers in real time and basis the relationship with the bank the customer can avail the services with minimal fuss and documentation. Going forward utilising India stack and alternate credit underwriting methodologies (we expect to tie-up with capable vendors for this) the disbursement can be seamless and instantaneous. This will enable the customer to avail credit at the time of requirement and will eliminate the long planning process which is normally involved

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

Ability to address large customer base at zero CAC for us and a digital CVM and cross-sell platform for the partner with multiple deployment models in a plug and play manner

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Consumer

PRODUCT ATTRIBUTES

SaaS

White label

Other

People

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Hareesh Panicker

CTO: Jayadevan Maymala

COO: Soney Jose

Head - Projects: Meiappan Palaniappan

TEAM COMMENT:

1. The founding team comprise of people with expertise in banking, telecom,banking technology. An ideal mix for the product that we are developing 2. We are extremely choosy in hiring,considering the founder back grounds - we have managed to have some real talented team to work with us

BOARD MEMBERS AND ADVISORS:

Shilen Sugunan

Momentum

FUNDED

NO

TOTAL FUNDING:

$40 K

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Oct 2016 --- USD40 K at a USD5 Mvaluation Comment on Seed Funded under the KSIDC technology innovation fund program. This is a seed fund program given out as a soft loan to selected start ups which shows innovation value and potential KSIDC