Today we are living in a world where digital service design is a must part of any service provider. The same applies to banks. in addition to the competition with other banks, penetration by fintech, the rise of neo banking, and rising expectations from customers are driving banks to change their core platform, requiring them to make them more advanced and more digital.

More innovative and efficiently operated systems/solutions are the need of the time and for core banking platforms it is a thing must-have.

Key areas to implement the next-gen solutions –

  • Customization
  • Cost optimization
  • Partnership with other ecosystems
  • Faster product delivery
  • Seamless and fast customer onboarding
  • Brand differentiation to drive customer loyalty
  • Innovative product marketing
  • digital security
  • Customized and widget-based dashboard
  • Dynamic user interface

What are the must-have features for Next-Gen Banking solutions?

Lyra Banking Solutions

White Lable solution for banks – 

What is a white-label solution?

In white labeling, one business outsources products or services from other businesses and markets the products/ services as their own. Lyra offers white label banking solutions for merchants to mold it according to their business requirements and needs. Lyra’s white label solution gives the merchant full liberty to manage the customer data and to customized the merchant’s payment page.

Benefits of white label –

It saves money and time – Using a white label solution saves your time to hire or to find an in-house web developer and the time requires to design and publish the payment page. Instead of hiring the developer, investing a little amount in white label solutions proves to be more cost-effective and beneficial.

Quick, easy, and risk-free – white label solutions are generally ready-made and the solution provider often integrates the solution for your business. You can build your business’s brand easily and risk-free as the troubleshooting is taken care of by the solution provider.

Opting for using white label solutions can help you and your business to focus on building the brand without investing in infrastructure or any technologies needed around the solution. It allows you to provide your client with an excellent product making it worth the cost.

Lyra’s White Lable banking solution – 

Lyra’s White label solution gives you the freedom to customize methods of payment, payment pages, etc. This service is worldwide and provides risk and fraud parameters. With chargeback minimization and quick settlement, Lyra’s white label solution rebrands the payment or service page in the brand name.

  • Features
  • Full ownership of the portal
  • Increased transparency with full access to the portal
  • Multiple users based on request
  • Segregation of the level of services
  • Cost-effective approach
  • Enhanced goodwill and customer loyalty
  • Ease with the implementation of time-to-time updates

Lyra MPI for banks – 

MPI or Merchant Plug-In is a module that facilitates 3DS transactions. Learn how 3DS works with MPI – https://www.lyra.com/in/how-3ds-works-with-mpi/

Lyra MPI is a 3Dsecure plugin enabling banks to minimize fraud in online transactions. Lyra uses SSL encrypted logic to secure the information to provide foolproof security to merchant banks. With 2 Factor authentication, Lyra MPI is certified with VISA, MasterCard, Amex, etc.

Features – 

  • Provides proven real-time Card authentication solution.
  • Renders simple merchant integration.
  • Seamless integration with Payment Gateway
  • Multi-currency and multi-lingual
  • Proffers multi-platform support.
  • Enables the bank to view 3DS related real-time communication using the Lyra web portal.
  • Provides the issuer ACS URL immediately on the portal whenever ACS is down.
  • Higher success rate and conversion rate
  • Maximum security
  • Fraud and Chargeback minimization