The Silicon Review
Fintech firms and mobile operators are obviously two different entities: different cultures, different industries, and different sizes. But what brings them together is the fact that they can collaborate and deliver an innovative and secure solution to market at scale. By working together with fintech firms, telcos can not only gain extra support from other business segments but also gain access to robust financial technologies that the fintech providers use. Cooperation between both segments has existed for a long time, but now it has matured enough to have major strategic alliances.
Globally there are various companies delivering excellent fintech solutions for telcos, but Panamax stands out from the rest. Panamax Inc offers Fintech and Telecom solutions to BFSI and Telecom industries worldwide. The New York-based IT solutions and services provider offers industry-leading solutions like Digital Financial Solutions, Digital Banking Suite, Customer Value Management, Fraud Management, Revenue Management, Network Switching Solutions, Monitoring Solutions, as well as Consulting and Managed Services. Its Fintech solutions encompass unmatched security, flexible configurability, and a cloud-enabled multi-tenant system. The award-winning robust and secure digital financial services platform “MobiFin Elite” has been redefining fintech for the past 7-8years.
In conversation with Bankim Brahmbhatt, President & CEO of Panamax
Q. What was the motivation behind starting Panamax?
Panamax Inc’s humble start was motivated by my vision to make finance accessible through technology under financial inclusion. Panamax came into existence to empower Telcos, Mobile Money Service Providers, Banks and Retailers, Mobile Network Operators, MVNOs, Mobile Money Service Providers (MMSPs), Merchants, Financial Institutions, and Governments with innovative, targeted, scalable, secured, and localized mobile financial services.
Q. How do you optimize and update your application regularly? How do you gather insights from clients or their consumers directly?
Panamax believes in continuous improvement and 360-degree feedbacks. Panamax is also known for providing customized solutions. So, in addition to the regular updates in software and architectural changes, Panamax updates the offerings as per the need of a client. There is a designated project manager with a support team comprising of subject matter experts assigned to clients to understand their needs and their change in requirements as the enterprise grows.
Q. What are the latest technologies leveraged by you to provide exceptional financial services?
Q. How do you streamline your services without compromising data security?
Q. Do you have any new services ready to be launched?
New services to be launched in the coming years include BNPL (buy now pay later), leveraging gamification strategy, offering advanced services in the mobile wallet, and rapid growth in the crypto wallet segment.
Q. What makes MobiFin the Preferred Choice?
The features making MobiFin the Preferred Choice are:
Q. What does the future hold for your company and its customers? Are exciting things on the way?
According to Research & Markets, global digital payments are expected to grow by 80% in 5 years, from $5 trillion in 2020 to $9 trillion in 2025. Juniper Research estimates that global digital wallet users will increase from 2.6 billion in 2020 to 4.4 billion in 2025, covering 72% of the world’s adult population. Panamax is eager to tap into this vast opportunity by innovating customer-centric solutions to rapidly meet evolving digital payment and banking needs of consumers, keeping pace with their digital lifestyle. As consumers progress into the digital era further, Panamax’s digital payments and banking solution is gearing up to offer better, faster, and technically future-proof solutions. The company will also be leveraging new use cases for consumer connivance in fintech as well as accelerating financial inclusion.
Meet the leader behind the success of Panamax
Mr. Bankim Brahmbhatt, President & CEO of Panamax and his inspiration behind the company’s inception, can be summarized by a study at MIT’s Leadership Center, which notes that “Faced with more complex challenges in business and the world at large, many leaders are embracing what some traditionalists may call anti-leadership. Instead of focusing primarily on managing their people, many leaders are fixing their attention on the problems at hand, and unintentionally leading people to get excited about the solutions they are striving for.” Twenty years ago, Mr. Brahmbhatt had a vision of a financially inclusive society, and that remains Panamax’s focus even now.