Opus Consulting Solutions: Empowering Retail Payments Ecosystem with Technology

CIO Vendor It is widely acknowledged that retail payments are cornerstone of payment technology sector and within financial services. The current market of payment solutions is very dynamic with newer payment models being introduced rapidly and which has placed a higher responsibility on technology solution providers to keep pace with this ever-changing market place. Opus Consulting Solutions, headquartered in Pune, blends its robust consulting and technology services with its IP led software services to provide indispensable benefits to the cards and payments sector within financial services, thus enabling these sectors to gain competitive advantage.
“Opus Consulting Solutions has acquired a strong client base from the US payment industry, some of those have been customers for several years, a testimony of our ability to successfully deliver solutions in this space,”says Anand Ramakrishnan, CEO at Opus Consulting Solutions. To cater to the technology needs of the cards and payments industry, Opus has launched five service lines - Platform transformation, Digital, Analytics, Compliance and Testing. Each of these service lines are focused on building solution accelerators/IP and skills in their specific areas. “We expect that the investments in these service lines will benefit customers by bringing in an aspect of innovation and transformation in our solutions”, adds Anand. Opus has carried out over 150 implementations in terms of switching systems to HP Nonstop and Electra.“We have a strong legacy in payment solutions since 1997 based on our association with Electracard”, says Anand. In addition, with a strong payments compliance team in its arsenal, the company has managed to maintain an influential record of serving over 120 partner Integrations for Payments sector.

Empowering Retail Payments Ecosystem with Technology

The company’s Outsourced Product Development (OPD) services allow payments technology companies to confidently outsource the development of their products enabling them to focus on sales, marketing and channel development. “This service has been re-organized under the Transformation Service Line and the basic idea is to provide end-to-end partner support in product development”, says Anand.
The distinctive factors that make Opus stand alone among its peers can be attributed to its domain expertise and payment and software industry best practices/certifications. Over 800 payments domain experts, marquee payment clients and joint innovation labs for digital and analytics service lines have empowered Opus to become a niche and innovative IP led software services player whose focus is on the cards and payments market. The company uses merchant analytics toolkits, bTrendz and takes help of Data Science to provide big data solutions to payment firms. “Furthermore, we ardently practice ‘right shore’ agile methodology to enable effective six week sprints”, quotes Anand.
Backed by a strong executive board that includes founders Ramesh Mengawade and Paresh Banerjee and industry bigwigs like Phaneesh Murthy,Opus has embarked on transformation journey to take the firm to the next level in terms of revenue, key customers and profitability.