Monday, June 27, 2022
Market launch of revolutionary FinTech product from Allied Digital that will enable rapid digital transformation for banks
  SocialTwist Tell-a-Friend  

MUMBAI , India, May 12, 2022 /PRNewswire/ -- Govt. of India recently announced the rapid digitalization of the banking sector as part of the Digital India initiative that will stimulate financial inclusion. RBI further appended and promotes its policy of Secure and Informed Digital Banking.

Allied Digital Services Ltd, a publicly-traded global IT solutions, services and Master Systems integration company, officially announced the launch of its new FinTech product 'FinoAllied' which is an AI-Powered Conversational Banking platform, that comes with built-in banking services and transactions fully ready to be offered to the customers through various digital channels of the banks. Allied Digital sources claim that FinoAllied could prove to be a game-changer for small and mid-size banks that are struggling in their digital transformation journey.

In the inaugural speech, Allied Digital CMD, Mr. Nitin Shah mentioned - "Going Digital is a survival question for many of the banks. Today, the banks on the one hand had to withstand huge competition from the hi-tech digital banks, on the other hand, cater to the exploding demand from the customers due to the rapid technology adoption across urban and rural India.

Mr. Nitin Shah also mentions – "The primary challenges for the small and mid-size banks are they lack the mature digital infrastructure to fast forward their digital journey, ability to drive inhouse transformative solutions due to IT resource/project management challenges and undertake associated high investment. Hence a product like FinoAllied gains centre stage as it just needs integration with the existing IT ecosystem of a bank. As a no-code cloud platform, the product initiates a comprehensive set of banking transactions over multiple digital channels, including voice channels, and supports different vernaculars."

Conversational AI, one of the underlying technologies for this product leverages Natural Language Processing to translate multilingual voice or text into clear banking instructions for various ready to execute business services. The product further leverages Machine Learning to provide customer & bank analytics and multi-factor authentication for security.

Emphasizing the uniqueness of the platform, the Chief Digital Officer, Mr. Utpal Chakraborty, a known name in the AI & FinTech industry, mentioned – "The FinoAllied platform stands out in the competition as most of the Conversational AI platforms available today that provide various tools for building conversational bots, whereas the uniqueness of FinoAllied comes with the popular banking transactions built-in that can be rendered through configured digital channels. The product adheres to RBI and other financial industry guidelines and cyber security essentials including data privacy."

"The small and mid-size banks can highly benefit by rapidly provisioning digitalization through this product. The product can provide a full-scale customer experience, promote larger customer footprints, subscribe to the pay-as-you-use model, save investments, and bring operational efficiency while remaining compliant" - stated Global CEO of Allied Digital, Mr. Paresh Shah.

The platform includes comprehensive support models for the banks and also value adds seamless integration with third-party systems and acts as a single window for the broadest spectrum of banking services.

The product also recently received the FinTech Innovation Award by a reputed banking forum.

Read More about FinoAllied Platform-

About Allied Digital

Allied Digital Services, India is a publicly-traded global leader in information technology consulting and services, since 1984. Headquartered in Mumbai, India, it is a global managed service provider and systems integrator, offering infrastructure solutions and services to clients in 70 countries. The service portfolio ranges from digital workspace services, digital enterprise infrastructure transformative solutions, cybersecurity services, cloud services, and support, to multi-lingual, multi-channel service desks and Fintech products & solutions. The company has a global workforce of some 3000 professionals, local support functions, governance frameworks, and operations across 70 countries. It offers its expertise and services to several Fortune 500 companies.

Allied Digital Website-


More News by PR Newswire India

IAS Announces Campaign Sync Solution with Xandr's Invest DSP to Match Advertisers' Pre- and Post-bid Settings

Shahani Group Chairperson Mrs Maya Shahani Featured in The Knowledge Review's 2022 Listing of India's Most Admired Women in the Education Sector

Court Lifts Final Injunction in Favor of Altair in World Programming Case

Medvarsity partners with McGraw Hill to augment its courses and improve learning outcomes

PHD Media and 1862 OML win big at the Inkspell Media's MarTech Fest held on 24th June in New Delhi

Sigmoid strengthens financial services, industrial, and media offerings with accelerators and hiring deep domain experts

Thailand Draws on Creativity, Technology to Answer Consumer Demand for Eco-Friendly Lifestyle Goods

JOYSBIO offers SARS-COV-2 Antigen Rapid Test that detects Omicron subvariants BA.4 and BA.5

Global Secure SD-WAN Solutions Thrive as Organizations Turn to Cloud and 5G

Top 3 Countries for Future Growth Potential: The United States, Norway, and the United Kingdom

Abcam: Appointment of Vice President of Investor Relations

LIXIL announces winners and continuing support of the Asia Pacific Property Awards 2022-23

The 7th edition of the Embedded Safety & Security Summit culminated with a triumph

Myntra StyleCast rolls out Campus Ambassador Program, kick starting the journey for ~500 aspiring young creators from leading colleges

CSM Tech wins IMC Awards for transformation at JSW mines

12th DBN Science and Technology Award Ceremony to Further Broaden the Vision of Agricultural Innovation

Petal Search wins iF Award 2022, signaling its dedication to next-generation search engine

Hisense Praises Women Football Players through #RememberTheName Campaign, Commits to Enhancing Tournament Experience

CGTN: Why China's development philosophy can help promote global prosperity

Theme song "We Will Be Better" echoes 25th anniversary of HK's return to motherland

Amit Shah chairs Parliamentary Consultat...
Jharkhand Health Minister boycotts Centr...
SC to hear on Monday pleas by Shinde, re...
Jharkhand Bypolls: Cong's Shilpi Neha Ti...
Drugs worth about Rs 15 cr seized in Ass...
Apple offers students with discounts on ...
 Top Stories
England white-ball skipper Eoin Mor... 
AutoGarage CRM Web-Mobile App launc... 
Pakistan's NHA initiates settlement... 
Silver Fern Education Consultants o... 
Amkette launches the AMP Audacity 1... 
Wimbledon 2022, Day 1: Play suspend... 
IndW vs SLW: Skipper Athapaththu's ... 
Child Help Foundation with IIFL Fou...