Zeta's Digital Transformation in Finance
Shashank Mehrotra and Roshan Shetty discuss Zeta's role in the financial technology space. They explore how Zeta aims to revolutionize card issuance and empower financial institutions with transformative digital experiences that improve customer satisfaction. Shashank highlights that despite the advancements in AI and other technologies, many core systems in the BFSI sector remain outdated, limiting financial institution’s ability to innovate and meet customer demands.
Challenges with Legacy Systems
Financial institutions face significant challenges due to the rigidity and technical debt of their existing systems. Simple changes in these systems take several months; sometimes, processors are unresponsive or fail to provide necessary data access. This inflexibility hampers the ability to create responsive applications.
Zeta's Approach to Modernization
Banks can launch parallel systems with Zeta to maintain existing systems while exploring new business avenues. This approach allows thorough testing and validation before fully transitioning to new-age solutions.
Future of Card Programs
The newest Gen 3 PCIe cards deliver hyper-personalized experiences for individual users and transactions. These next-generation cards enable real-time customization, providing seamless and engaging experiences that set them apart from traditional card programs.
Role of Tech Service Providers
System integrators are crucial for upgrading the benefits of modern solutions and creating innovative bank experiences. API-first platforms allow partners to integrate and innovate effectively.
Future Directions and AI Integration
Zeta has carved a path beyond cards. They have invested in AI use cases for card issuers in two key areas:
- Conversational AI to transform customer engagement and
- Decisioning AI to optimize various banking decisions