How SoftBank’s investment in major private equity Zeta made it India’s newest unicorn startup.
“We are currently present in North America, Latin America, UK, India, Vietnam and the Philippines,” he says. Today, Zeta is a team of 750 people around the world.
What will your target markets be? “In terms of expansion, North America will be the focus in the future. Of course, India will also remain a big market. We are already working with eight-nine banks in India offering them various products and services on our platform. India will definitely be a big market for us, ”says Turakhia.
“There are relatively fewer players in banking technology. This is one of the last frontiers of technology adoption, ”he says, adding that Zeta can disrupt the stagnant banking technology landscape with help from SoftBank.
He says most banks are using decades-old software built when mainframes and Cobol were in vogue. “They took a long time to innovate and deliver a poor user experience. With Zeta, financial institutions can take advantage of a modern cloud native platform and improve speed to market, agility, cost / revenue ratio and user experience, ”says Turakhia.
Zeta’s Omni Stack provides all the functionality banks need to launch new products that are relevant to today’s consumers. It includes Zeta Tachyon (credit, debit and prepaid processing with card control and personal finance management capabilities), Zeta Tachyon Loans (a modern personal loan management platform and Bub-now-pay-later), Zeta Tachyon Deposits (a modern core for DDA, checking accounts, savings and deposit accounts) and Zeta Tachyon Mobile (a ready-to-use, white-label, customizable mobile application for credit cards, savings accounts, prepaid , loans, etc.)
“This is a fully modern cloud-based technology that operates independently of the cloud. It is infinitely scalable. We actually did a demonstration in January where we executed more volume on our platform than the total volume of transactions from around the world in front of multiple banks, with a 100% success rate, ”says Turakhia.