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FSS launches BLAZE to simplify payment transactions in Middle East

By Delisha Fernandes

March 11, 2024

  • Blaze
  • Financial Institutions
  • fintech MENA
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FSS, BLAZE, Middle East, financial institutions, payments technology, FinTech news, FinTech MENA

Financial Software & Systems (FSS), a global payments technology solutions provider, has announced the launch of ‘BLAZE‘, which is designed to meet the needs of banks and financial institutions.

Using the BLAZE architecture, the FSS Payment Gateway can process over 5000 transactions per second. BLAZE, a platform that is built to create a robust ecosystem of payment technology, will help financial services institutions and banks overcome the challenges imposed by heavy, monolithic architectures.

V Balasubramanian, CEO of CashTech, FSS, said, “Continued expansion in the region demonstrates our commitment to providing our clients with quality services and support. 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.”

BLAZE is a cloud-native microservices-based technology platform designed to offer significant efficiency gains in terms of speed and scalability, ensure high durability during peak workloads, improve fraud prevention, and enhance services to banks and financial institutions while simplifying choices and bolstering the confidence of end consumers.

FSS has a proven track record in the Middle East, with more than 18 products deployed across six countries and partnerships with the top tier-1 banks, four of the six central country switches, and the top two third-party processors.

Entry of BLAZE into the market will further expand its presence in the Middle East market and provide digital technology-enabled scalable and safe payment solutions.

The Simply Payments conference focused on the theme of ‘Redefining payments ecosystem through platforms’. The event was attended by dignitaries from the ME finance industry along with notable speakers including Jan Pilbauer, CEO of Al Etihad Payments, who elaborated on ‘UAE’s payment ecosystem, Ali Salim Al Shekaili, AGM – Head of Digital & e Channels at the National Bank of Oman, shared insights into the ‘Success story of payment platforms, and Tony Chacko Joseph, Head of Digital Payments Transformation at the Ministry of Finance, who discussed ‘Digital Payments in the Public Sector.’

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