Benefits of an AI platform from Opus Technologies
Opus Technologies is a fintech company that is transforming the industry through innovation. The company develops AI-based platforms for banks and credit unions.
FinTech Futures interviewed Opus CEO Praveen TM. He shared his thoughts on the company’s and the market’s future development.
Research shows that the financial services industry is at the forefront of innovation. Praveen says the critical factor in the industry’s rapid development is its focus on artificial intelligence technologies. Previously, professionals in the sector relied on cloud computing. However, as progress has been made, the benefits of AI have become apparent.
What solutions Opus offers
Opus has been in the market for 26 years. During this time, it has become one of the most important service providers in the payments industry. The company started with traditional tools but then moved on to advanced solutions. Today, the company actively supports its customers in their digital transformation processes. During the collaboration, Opus noticed that companies face challenges when implementing AI. The main ones are:
– lack of specialists ready to support AI solutions;
– the need for large investments to transform systems;
– lack of understanding of return on investment (ROI) mechanisms.
Opus offers an effective tool to address the identified issues and simplify digitalisation. The company has developed an open AI platform, FinGeniusAI, which integrates the activities of various transformation stakeholders. Opus customers, partners, and technology experts can interact here. The platform aims to identify the challenges facing the business. Opus and subject matter experts then create a roadmap. Experts use this to conduct a proof of concept or POC. The process takes place on a limited budget. This allows the service provider to demonstrate a potential ROI option to the client.
FinGeniusAI started at the beginning of 2024. Since then, several practical solutions have been developed on the platform, including:
– intelligent payment routing;
– AI-enabled payment enrichment and recovery;
– ATM cash volume prediction.
Opus also offers AI solutions for document analysis and information retrieval in various data libraries. In addition, there is a growing customer demand for real-time payments and open banking.
Praveen sees the move to ISO 20022 as an essential milestone in developing the fintech industry. Thanks to this, we can expect an increase in the speed of domestic and international transactions. It will also improve the quality of data exchange between organisations. Opus is working on improving its products. They should help the banking and financial sector simplify processes and increase productivity.
