back Back

Kotak automates partner payments with Act21 Software’s Hyperform

By Leandra Monteiro

July 20, 2021

Share

Kotak, payments, Hyperform, Act21 Software, digitalKotak Mahindra Bank (Kotak) today announced that it has automated its partner payments process, powered by Act21 Software’s Hyperform – an end-to-end payout solution. Hyperform is a next-generation payment automation solution for the banking and financial services industry (BFSI). By integrating with the bank’s existing technology ecosystem, Hyperform enables Kotak to effectively manage and monitor payouts – increasing efficiency, enhancing data accuracy and making timely payments.

The Hyperform solution has a single intuitive user interface screen for stakeholders who can view the payout data patterns, adjust as required and generate payout reports. The process-driven configurable workflow will ensure timely approval and processing of payments by automatically navigating approval stages and sending reminders to various approvers.

Puneet Kapoor, President – Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank Ltd. said, “Our core ethos is to give a delightful experience to all our stakeholders. By implementing the Hyperform solution, Kotak is now in a position to significantly enhance its vendor payments process efficiently, accurately and in a quicker turnaround time to its various stakeholders. This, in turn, further strengthens stakeholder relationships and business outcomes.”

Pankaj Gupta, Founder and CEO, Act21 Software said, “We are delighted to partner Kotak in automating their payouts process. Hyperform is a tailor-made solution for the BFSI domain and we have introduced smart functionalities like providing real-time visibility on partner payouts, trend analysis and anomaly detection. It is bound to reduce Kotak’s operational costs and at the same time deliver an enriching experience to their stakeholders. Our sole focus is on how we can solve the challenges faced by the banking industry & provide an edge to our customers using digitally transformative technologies.”

Previous Article

July 20, 2021

4 ways for FIs to maximize the value of instant payments

Read More
Next Article

July 20, 2021

LPA Group announces Mark Reeves as the firm’s new Senior Advisor

Read More








IBSi Daily News Analysis

March 22, 2024

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 27, 2024

Vilja integrates Mast’s mortgage origination solutions into platform

Read More

March 22, 2024

AccessPay closes $24m funding round led by True Ventures

Read More

March 14, 2024

Tuum bags investment from Citi Ventures in Series B extension

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023