President & CEO
Panamax Inc, the technology unit of Bankai Group was established in the year 2001 and is headquartered in New York. It aims at developing fintech and telecommunication technologies for telecom operators, carriers, MNOs, and MVNOs. The company is also well known for collaborating with renowned clients. The same has led Panamax to achieve invaluable experience and insights that have helped the company build a portfolio of turnkey telecom and technology solutions. Panamax’s solutions and services are particularly designed to ensure seamless integration with the existing ecosystems of clients and prospects. To further explore the story of Panamax, CIO Insider engages in a chat session with the man at the helm.
In conversation with Bankim Brahmbhatt, President & CEO, Panamax Inc
The fintech industry is on a huge transformation curve. Where is Panamax positioned in the populous fintech industry? What are your target segments?
Fintech innovations have been at the forefront of tech disruptions in recent years. Well-known banks are now seeking to partner with fintech startups to reinvent their business models. Panamax has always been favored by the top financial brands from across the world to create their own customized digital offering. It has been two decades since we began this journey of financial transformation and it has never been more rewarding. By exploring new technologies, the company has positioned itself as a thought leader and a futuristic fintech firm that caters to both small and big organizations. Our deep knowledge of the industry and the vision of our management team have continually benefitted our customers in delivering futuristic and resilient solutions.
Through our flagship digital financial solution - MobiFin Elite, we leverage the latest technologies to help banks, financial service providers, telecom operators, MNOs, MVNOs, telecom
regulatory authorities, and enterprises to deliver financial services to their end customers.
What is the challenge that you solve for customers? What’s Panamax’s USP?
I have observed the budding fintech industry for the past three decades and based on that I can say that the primary concern for any fintech user has always been security, which makes security a top priority for enterprises as well. Also, with the steady inclusion of technology in different sectors today, the customers need more than simply banking. They like their banks to communicate seamlessly and prefer highly personalized experiences. These changes can only be supported through superior Omni-channel capabilities of a digital financial platform.
Our deep knowledge of the industry and the vision of our management team have continually benefitted our customers in delivering futuristic and resilient solutions
Could you summarize your portfolio of solutions and the underlying technology frameworks of MobiFin?
Panamax provides a flawlessly created set of solutions that help global fintech and telecommunications industries cater to their customer demands for the past two decades. We provide operational efficiency and customer-focused technology to banks, financial institutions, telecom operators, enterprises, and aggregators through state-of-the-art Digital Financial Solutions (DFS), Revenue Management, Network Switching Solutions, Customer Value Management (CVM), and Monitoring Solutions.
MobiFin Elite is based on low-code no-code platform that is built over Software Service Building Blocks running on a true microservice architecture. Catering to our global clientele, the platform provides ECC-256 bit-based security
with PSD2 and GDPR compliance with multi-factor authentication. We have helped most prominent banks globally to create a customized digital ecosystem for their customers.
Tell us the deployment story of one of your latest & most challenging implementations.
How did your platform transform the client’s business?
Reaching remote areas during the COVID-19 pandemic to provide financial assistance was a challenge for countries worldwide. A West African mobile wallet service provider arranged MobiFin Elite to aid the provider bid their fintech services across nine countries while being based out of Senegal.
The legacy network and faster time to market of the service and delivery were the major challenges during the project. MobiFin Elite was employed to help the service provider perform bulk transactions for salary payments. Moreover, the platform was used to grant government subsidies during COVID-19 and distributing the services across various West African countries.
What are the upcoming opportunities you see in the market? What is Panamax’s future roadmap?
The fintech industry is reckoning itself in the post COVID world. The scenario presents several opportunities for financial organizations irrespective of their size. Innovation in contactless payments, efficient amalgamation of IoT in the current product line as well as multi-service financial platforms are here to mold the fintech industry of the future. We have already incorporated most of the major technologies like AI, Big Data. RPA and Blockchain; the latest events have sped up their acceptance into the fintech circuit.
We focus on personalization rather than generalization and with our customers hailing from different parts of the globe; it becomes crucial that we scale ourselves to suit local regulatory policies. With fintech being a coming-of-age technology, we are set to further provide flexible and convenient solutions through advanced data analytics features. So, customization for our clients as well as the actual users is what makes the central idea for our roadmap. Panamax is looking to educate more and more traditional financial players into adopting and enhancing technology in their operations as well as offerings in order to offer faster and efficient financial services. It will be a busy 2021 for us with some major upgrades as well as new product launches in the pipeline. Customer has once again proved to be the reason for any innovation and that is what frames Panamax’s roadmap.