The new Datos Insights report, "Card Program Evolution: Escaping the Legacy Card Tech Hamster Wheel," outlines the four key stages of card program maturity and provides a roadmap for financial institutions to move from legacy-dependent systems to modern platforms. Read the full report here: https://hubs.ly/Q02DTxFZ0 6 Risks of Legacy Technology: In developing the new report, Datos Insights interviewed bankers about the challenges of legacy systems. These interviews revealed six primary risks associated with maintaining outdated technology: 1. Consumer demands show they want the same experiences from their financial institution that they receive from other companies, such as transparency, control, immediacy and intuitive interactions that are seamless across touchpoints. 2. Retiring COBOL programmers pose an increasing risk for financial institutions trying to react to regulations, make product changes and even run their portfolios day-to-day. 3. Artificial intelligence will place new demands on data access and platform flexibility. 4. Real-time is replacing batch as the default for processing, data access and innovation. 5. Digital incumbents are increasingly challenging traditional financial institutions as branch networks become less of a competitive advantage 6. Regulatory changes have become a challenge to implement and manage on legacy platforms, taking time away from innovation and adding risk for issuers The report highlights how modern card processing platforms provide 8 capabilities that help mitigate the risks of legacy technology. These include: 1. Cloud infrastructure for enhanced scalability 2. API-first design for better integration and flexibility 3. Real-time data processing for timely insights 4. Low-code/no-code capabilities for faster development 5. Microservices architecture for improved efficiency 6. Modern user interfaces for better user experience 7. Modern programming languages for future-proof innovation 8. Broad card program controls for in-house management and development The report defines four maturity stages for card programs, detailing specific criteria, challenges, and recommendations for each stage: 1. Legacy Dependent: Legacy-dependent programs have limited or no ability to innovate or control their direction. 2. Developing: Developing programs are still legacy-dependent but can access modern middleware such as APIs and launch sidecar programs to innovate. 3. Modernized: Modernized programs handle most changes internally, though they can be limited when connected to legacy systems. 4. Transformative: Transformative programs empower issuers to innovate and handle changes internally with few limitations. Read the full whitepaper for in-depth insights and strategies: https://hubs.ly/Q02DTxFZ0 #Zeta #NextGenProcessing #datos #digitalexperience #cardprocessing #cardprograms
About us
Founded in 2015, Zeta is a provider of next-gen credit card processing platform. Zeta’s cloud-native and fully API-enabled stack offers a comprehensive range of capabilities, including processing, issuing, lending, core banking, fraud detection, and loyalty programs. With a strong focus on technology, Zeta has over 1700+ employees and contractors, with more than 70% dedicated to technology roles. Operating across the US, Middle East, and Asia, Zeta has served a global customer base of 35+ clients who have issued over 15 million cards on Zeta's platform to date. Backed by prominent investors such as Softbank Vision Fund 2 and Mastercard, Zeta has raised $280 million, at a valuation of $1.5 billion.
- Website
-
https://www.zeta.tech/us/
External link for Zeta
- Industry
- Software Development
- Company size
- 1,001-5,000 employees
- Headquarters
- San Francisco, California
- Type
- Privately Held
- Founded
- 2015
- Specialties
- banking technology solutions, credit card processing, payment processing, financial technology solutions, banking as a service, embedded finance, embedded banking, credit card management, core banking solutions, digital banking solutions, and Next gen banking technology
Locations
-
Primary
Get directions
San Francisco, California, US
-
Get directions
Diamond District
HAL Airport Road, ISRO Colony Domlur
Bengaluru, Karnataka 560008, IN
-
Get directions
Hyderabad
Zeta Suite
Hyderabad, Telangana 500001, IN
Employees at Zeta
Updates
-
Catch our President, Gary Singh's take on the new Datos Insights report and the critical need for modernizing card programs. In his post, Gary outlines three key considerations that are essential for starting your modernization journey. Read on to find out what they are and see how modernization can lead to more responsive products, faster time to market, and differentiated experiences. Read the full report here: https://lnkd.in/gCXj5XwU #Zeta #NextGenProcessing #datos #digitalexperience #cardprocessing #cardprograms
I was talking to a card program executive a while back, and he was telling me that it takes weeks to update the rates in their system every time the Fed changes interest rates, costing them millions a year, because they have to open a ticket with their legacy platform. When things get this broken, it’s often easy to wonder why card issuers haven’t modernized already. A new report from Datos Insights talks about this journey of modernization in a staged approach. I thought it was worth double clicking on the hardest part of the journey: starting it. Here’s a link to the Datos report: https://lnkd.in/gDiCGEpH In order to take the first step in modernizing your platform, you need to address three key things, and I think it’s worth discussing what those are up front: 1. More People: running two systems in parallel requires additional training and additional staff to manage. In the long-run, this pays for itself with better operational saving, lower infrastructure costs and better growth, but people need to align on an acceptable timeframe for ROI. 2. Seamless Experiences: providing a unified experience means coordinating data across multiple digital tools and using the right middleware to deliver that experience. In new sidecar programs, it can be easier to just carve out a complete program (such as small business, prepaid or commercial) rather than try to build a blended data experience. 3. Data and Reporting: in some cases, you may need to merge data from two sources to do business and regulatory reporting. The advantages of course, are more responsive products, faster time to market, the ability to own your IP and create differentiated experiences, and more. HDFC provides a good example of accelerating innovation by adopting a modern platform. I’d love to hear from others on their thoughts. Given the growing risks of the status quo, how do you take this initial step into modernization and overcome these challenges? What’s holding you back? Please let me know your thoughts in the comments. Alan Ng Alex Johnson David B. Shipper #NextGenProcessing #datos
-
We are excited to announce the release of a new Datos Insights report commissioned by Zeta: "Escaping the Legacy Card Tech Hamster Wheel." Leveraging their expertise and interviews with card executives, Datos Insights has crafted this comprehensive roadmap for modernizing card programs. The report dives into: 1. The four stages of card tech modernization 2. How to move your program to the next stage 3. The risks of the status quo Download the full report here: https://lnkd.in/gseEGUqq We’d love to hear your thoughts! Join the conversation and share your insights in the comments below. #Zeta #NextGenProcessing #datos #digitalexperience #cardprocessing #cardprograms
-
-
Our Co-Founder and CTO, Ramki Gaddipati, recently sat down with TechCircle for an insightful interview. Dive into the discussion to learn about how Zeta's continuous innovation with cutting-edge technology and the unique solutions provided to its banking clients are setting new standards in customer experience, resulting in high satisfaction ratings and exclusive features that are reshaping the payments industry. Read the full interview here:https://hubs.ly/Q02DmXKh0 #TechCircle #NextGenBankingTech #Zeta
We expect to be fully profitable in 18-24 months: Zeta CTO Gaddipati
techcircle.in
-
Is Your Card Program Stuck? Datos Insights' new report “Escaping the Legacy Card Tech Hamster Wheel” lays out the four stages of card program maturity and delivers a practical framework for banks and credit unions to advance their portfolio maturity. Join CBA, Zeta, and Datos Insights for a webinar on June 25 where a panel of experts discusses this new report. Register now to confirm your attendance at 2 PM ET on June 25th: https://lnkd.in/gXiMv6GW #digitalbanking #customerexperience #webinar #cardprograms #Zeta
This content isn’t available here
Access this content and more in the LinkedIn app
-
At Zeta, we envision a future with access to credit at everyone's fingertips. On May 10th, we hosted 300+ Indian banking leaders and luminaries at an exclusive event titled Democratizing Credit 2024 in Mumbai to discuss a roadmap to this vision. Industry leaders shared their insights on financial inclusion, the impact of democratizing credit for 100M+ Indians, and, most importantly, the role of NPCI’s Credit Line on UPI in enabling these outcomes. Sessions included: - Welcome Address by Bhavin Turakhia, Zeta - Keynote Address by Parag Rao, HDFC Bank Limited - Banking in the New Era of Digital Access by sivaram kowta, Zeta - Understanding Credit Line on UPI and Its Potential by Sourabh Tomar, NPCI - Demonstration of Population Scale Banking by Ramki Gaddipati, Zeta - Panel discussion on Democratizing Credit, featuring Bhavin Turakhia, Zeta, Ramesh Lakshminarayanan, HDFC Bank, Gaurav Kumar, Yubi and Deepak Sharma, Former President and CDO, Kotak Mahindra Bank The event concluded with a performance by Bollywood star Sonu Nigam, who lit up the night with his finest songs! #DC2024 #UPI #Digitalcredit #DemocratizingCredit
-
“I could hear the codes running,” chuckles Pavanteja Achanta while narrating his incredible story of migrating a massive RDS instance overnight! Pavan single-handedly migrated the biggest RDS instance to a new zone within 7 hours! That’s like moving an entire kitchen to a new city overnight and ensuring breakfast is served the next morning! But how did Pavan pull this off? That to alone? And what’s with the “hearing codes running." Read to know! --- Zeta Scoops is our weekly newsletter for people keen on learning how Zeta optimizes engineering tools, builds products, leverages technology to increase efficiencies, and creates a great workplace! There’s something for everyone. #WeAreZetanauts #LifeAtZeta
From Panic to Precision: Tale of Migrating the Biggest RDS Instance Overnight
Zeta on LinkedIn
-
Next-Gen compliance creates 5 distinct values for issuers. This blog explores how these benefits enhance efficiency, security, and customer satisfaction for financial institutions. Read the blog to explore how your business can benefit from the latest in card technology: https://hubs.ly/Q02yB-360 #Zeta #NextGenProcessing #ModernTechnology
5 Ways Modern Credit Card Processing System Tech Helps Issuers
https://www.zeta.tech/us
-
We're thrilled to share that industry experts are applauding HDFC Bank's latest product, PayZapp, powered by Zeta's next-gen solutions! Don't miss the insightful analysis from the esteemed Zil Bareisis on our collaboration with HDFC Bank. Read the full report for an in-depth look: https://hubs.ly/Q02ytMv80 #Zeta #PayZappRevolution #NextGenBanking
-
-
REMINDER!! Our webinar with the Consumer Bankers Association on "Achieving Regulatory Excellence With Next-Gen Compliance," led by Karla Booe, is just a few hours away! If you have not done so already, please register for the webinar here: https://lnkd.in/gdnHAfHf We look forward to your participation and a great session ahead. #Zeta #NextGenCompliance #RegTech
WEBINAR ALERT! Unlock the secrets to regulatory excellence with Karla Booe, a stalwart in compliance with over 3 decades of experience. Join her on May 22, 2024, at 2 PM ET as she unveils her Compliance 360° strategy in our webinar, co-hosted with the Consumer Bankers Association. Register now: https://hubs.ly/Q02wwhh70 Karla, Zeta's Chief Compliance Officer, will delve into the essence of Next-Gen Compliance. She reveals how financial institutions can spearhead innovation while seamlessly adhering to regulatory mandates. Gain insights into: 1. Leveraging technology for regulatory agility 2. Navigating regulatory updates effortlessly 3. Implementing a Compliance 360° framework for next-gen compliance #NextGenCompliance #CBA #Zeta
-