PRNewswire
Mumbai (Maharashtra) [India], November 24: Financial Software and Systems (FSS), a leading payments technology provider, hosted the 2025 edition of its flagship Simply Payments conference in Mumbai, spotlighting how artificial intelligence and modern governance frameworks are shaping the future of digital payments in India. This year's theme, 'AI in Payments: Governance, Security & Frameworks', focused on how technology upgrades in banks' backend systems directly translate into smoother, safer, and faster payment experiences for everyday consumers.
* Aims to modernize banking for millions of consumers; highlights faster payments, stronger security, and improved digital experiences
During the event, FSS announced that its platforms have seen strong adoption across India and international markets. Over the last year, the company secured more than ten major new contracts for its Blaze payment platform, and large number of banks now rely on FSS for processing and reconciliation. The company aims to onboard another 150 banks to its AI-enabled Smart Recon solution, positioning FSS to cross the 200-bank mark by next year. These implementations are helping banks manage rapidly rising digital volumes. At one public sector bank, for instance, FSS systems support more than 30 million e-commerce transactions every day, along with high UPI volumes. In performance tests, the company's payment gateway under Blaze achieved speeds of 250,000 transactions per second, significant for ensuring stability during peak payment periods such as festival shopping and salary days.
Speaking at the event, V Balasubramanian, CEO of FSS, said that the next chapter of India's digital payments growth depends on trust and reliability. "Every Indian interacts with digital payments daily, and our focus is to make these experiences instant, secure, and frictionless. The work showcased today reflects three years of rebuilding our platforms to serve banks at massive scale while improving the everyday transaction experiences of millions."
Adding to this, Vishal Maru, Global Processing Head at FSS, said, "Our goal is to help banks launch services faster, maintain strong compliance, and deliver predictable performance even under heavy load. The advancements we demonstrated at Simply Payments are already driving measurable improvements in India and overseas."
FSS also showcased how AI is improving reliability and reducing delays behind the scenes. Through its Recon.AI solution, banks are seeing faster error detection, quicker refund cycles, and shorter dispute resolution times. Several institutions using FSS platforms have cut processing time by half, achieved up to 80% faster turnaround compared to older systems, and reduced operating costs by nearly 30% in the first year. These improvements ultimately help consumers experience fewer failed payments, quicker complaint resolution, and more secure digital transactions.
Simply Payments 2025 featured discussions with industry leaders, regulators, and technologists, with a focus on the real-world impact that AI, modern engineering, and stronger governance will have on digital payments.
About Financial Software and Systems (FSS)
Financial Software and Systems (FSS) is a global leader in payments technology and transaction processing, offering a comprehensive suite of products and solutions that redefine the payment experience. With a presence in over 25 countries, FSS powers seamless transactions and enhances customer experiences for banks, financial institutions, and fintechs worldwide. The company's offerings include card issuance, merchant acquiring, real-time payments, and reconciliation, secure 3D authentication, and active device monitoring. FSS's innovative platforms, such as FSS BLAZE™ and FSS BLAZE™ Studio, enable rapid deployment of payment products and low-code application development, fostering digital transformation in the payments ecosystem.
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