In an exclusive interview with SME Times, Kyzer Software CEO Manish Bharucha said that Kyzer Software offers products in trade finance and regulatory management

1. Please tell our readers about Kyzer Software and its entrepreneurial journey.

» Niche Banking products in Trade Finance, Compliance & Regulatory Reporting.

Supporting “Multiple Regulations” within a unified platform.

» Clear focus on Banking products offered us a directed path to approach growing banks that were wanting to partner with technology companies to achieve process efficiency and showcase their bank brands globally.

» Products Live with leading Indian and Multinational banks

With built-in business rules & validations for key trade products and regulatory reports.

» Pan India Trade Automation product used by thousands of Bank users

Adding more users across bank branches and satellite centers.

» Trade Finance Automation that offers Pan India functionality for all Foreign Exchange – Trade and Non-Trade transactions, integrations with bank core and non-core systems, treasury, etc.

» First Products Suite offering for Trade Finance Regulatory Management:

Supports multiple Reserve Bank of India, FIU India, Directorate of Rev. Intelligence, DGFT e-BRC reports & submissions.

» Comprehensive Customer Trade Portal to offer both trade products and regulatory management.

Offers trade request initiation, document submissions, alerts & notifications with complete trade information.

» Ready To Deploy Marketable and Infosec compliant products

Built-in up to 8 eye principle authorization matrix and bank compliance and audit management

2. What are the services you offer and for whom?

» Kyzer has established itself as a promising technology start-up in Banking & Financial Services. Niche solution provider in banking domain esp. in Trade-Finance over the past 5 years

» Partnered with 16+ banks across leading Indian and Multinational banks.

» Kyzer is helping banks in digitizing and automating banking processes. We are also helping banks in timely generation of critical compliance and regulatory reports by automating data extraction across multi-systems.

» Niche Banking products in Trade Finance, Compliance & Regulatory Reporting.

Supporting “Multiple Regulations” within a unified platform.

» Kyzer software is building the complete trade finance platform to shape the future of bank customer – business – regulatory connect

» Kyzer Software, an established player in Banking & Financial Industry with products in Trade Finance, Compliance & Regulatory Management, recently announced securing position amongst the top 20 FinTech Players in India. The ranking was declared via a study conducted by the IBS Intelligence in its India FinTech Report 2021.

Achievements:

Ranked “Top 20 Fintech Players” by IBS Intelligence

- India Fintech Report 2021

“Indian Achievers Award for Emerging Company - 2021 ”

- Indian Achievers Awards 2021

“Best Trade Finance Implementation”

- 2nd IBSI Global FinTech Innovation Awards 2020

“Rising Star in RegTech Segment”

- IBS Intelligence India Fintech Report 2020.

“Best Compliance, Regtech Solution”

- FCBTA 2021 by Banking Frontiers

3.What is the current scenario of the banking industry in India?

» Increasing bank liabilities for Regulatory Compliance

» The volume of data produced by the banking & financial industry today is massive.

Leveraging this data to extract customer insights and prevent fraud requires analysis beyond the ability of any single team.

» Regulatory technology – or Regtech – is the branch of emerging technology rising to meet the challenge.

» Trade Finance business

o Highly paper based, manual documentation

» Lack of unified Compliance & Reporting structure

» Un-structured data

» Fractured bank process implementations

» Multiple data source systems

» Dissatisfied customers

4.Are Indian MSMEs adequately funded? What about the interest rates, compared to their global peers?

For Kyzer, funds have been internally raised by founders and via debt from banks.

As for MSME funding, we haven’t received any concession on commercial interest rates or any additional privileges / scheme coverage for debt.

5.How technology can help to ensure better export and import business environment?

» Effective management of trade finance requires a comprehensive approach that enables banks and corporates to monitor, measure and control export / import documentation, validation and processes as part of an overall business management strategy.

» In-depth knowledge of all internal factors that can affect trade facilitations, risk exposures and identification of all parameters assets of the organisation that are exposed to credit risk.

6. Technology advancements can step in and aid organisations in this process. By automating business processes and compliance practices and evaluating each action against different types of risk, organisations will be able to ensure better auditability and mitigate credit risk.

» A business process management (BPM) framework will allow organisations to easily design processes and develop the strategic measurement necessary to ensure proper performance and reduce operational risk. Once the mechanisms for measuring financial exposure have been put in place, limits can be set to automatically track and calculate credit risk in accordance with pre-defined requirements.

7. Please share your future plans with our readers.

» We are moving ahead with Customer Portal features and exploring new partners.

» We can manage the complete Customer Trade Transaction Life Cycle from initiation, trade processing, compliance – AML / Sanctions/ Blacklist / Deferral checks, document scrutiny, core systems – CBS, Treasury, 3rd party system integrations, real time regulatory submission and certifications.

» We are open to cross banking customer portal development with “best in class” features for banks, corporates and SMEs.

» We are moving ahead with integration - BOTs, OCR and Blockchain.

» Technology stack built to give us the edge to react swiftly to ever changing user and regulatory expectations.

» Our API approach gives us the opportunity to integrate with bank core, non-core and 3rd parties quickly.