Financial Software & Systems Pvt Ltd (FSS), a leading provider of global payment technology solutions, announced the launch of BLAZE at the Simply Payments conference held in Dubai on March 7th, 2024. BLAZE is a cloud-native microservices-based platform designed to address the evolving needs of the Middle Eastern payments landscape.

The Simply Payments conference, themed “Redefining payments ecosystem through platforms,” brought together key figures from the Middle Eastern financial sector. Industry leaders like Mr Jan Pilbauer, CEO of Al Etihad Payments, Dr Ali Salim Al Shekaili, AGM – Head of Digital & e Channels at the National Bank of Oman, and Mr Tony Chacko Joseph, Head of Digital Payments Transformation at the Ministry of Finance, offered valuable insights into the region’s payment ecosystem and digital payment trends.

BLAZE is designed to empower banks and financial institutions by offering a highly efficient, scalable, and secure payment processing platform. Built with a cloud-native architecture, BLAZE delivers significant improvements in transaction processing speed, handling over 5,000 transactions per second through the FSS Payment Gateway. Additionally, the platform ensures high durability during peak workloads, minimizing downtime and disruptions.

Beyond speed and scalability, BLAZE prioritizes robust security features to combat fraud and enhance overall transaction safety. It simplifies the technological choices available to financial institutions, fostering greater confidence and user trust within the payments ecosystem.

FSS boasts a successful track record in the Middle East, having deployed over 18 payment technology products across six countries. The company has established partnerships with top-tier banks, central country switches, and third-party processors, solidifying its presence within the region.

BLAZE addresses the challenges posed by traditional, monolithic payment processing architectures. It offers a flexible and adaptable platform that can grow alongside the evolving needs of financial institutions and their customers.

V Balasubramanian, CEO of CashTech, FSS, emphasized the company’s commitment to the Middle East market and its dedication to continuous innovation. “Continued expansion in the region demonstrates our commitment to providing our clients with quality services and support,” he stated. “With BLAZE, we further embody our commitment to innovation in payments. BLAZE will enable banks and financial institutions to deliver their customers novel and innovative payment experiences.”

The introduction of BLAZE signifies FSS’s dedication to advancing the digital transformation of the Middle Eastern payments sector. By providing financial institutions with a secure, scalable, and future-proof platform, FSS empowers them to deliver cutting-edge payment solutions for their customers.