The story behind Opus’ transformation and what this means for the payments industry
This is the era of mobile-first digital economies, and it is being led by a revolution in the payments industry.
With rapid and radical structural changes in the payment mix and ecosystem, Opus finds itself at a critical juncture, one that calls for an equally sweeping transformation. With an aim to become an innovation-led payment technology partner for its clients, Opus Consulting Solutions has transformed into Opus Technologies. The new brand image focuses on building smart payments, developing intelligent solutions, and continuing to shape the future of the payments industry.
FinTech Futures recently interviewed Praveen TM, CEO of Opus Technologies, to discuss the rationale for rebranding, whether this will help the company continue on its path of exponential growth, and how it will shape the future of payments.
What was the inspiration behind Opus’ rebranding?
We’ve always embraced innovation and driven change in the payments industry. Over more than two decades, we’ve helped our clients navigate the rapidly evolving payments space. With the payments industry now being on the verge of another seismic transformation, rebranding was the natural progression to strengthen our position to spearhead this change.
While ideation is important, collaboration is key to innovation. The free exchange of viewpoints hydrates ideas and helps turn them into real-world solutions. The rebranding from Opus Consulting Solutions to Opus Technologies better represents our close collaboration with clients. Opus Technologies will be deeply embedded with the client’s core operations and collaborate closely with their teams to create solutions that are aligned with their long-term vision.
With the knowledge gained from these deep collaborations, we aim to remain at the forefront of emerging technologies, create solutions that resonate with the pulse of the industry and redefine the payments space, yet again.
After being in business for 26 years, how was your rebranding received by key clients?
Our rich legacy of 26 years includes serving over 200 customers in 35 countries across five continents. We have supported some of the biggest brands in the banking and payments space through their digital transformation journey.
We have won the trust of our clients, providing them with cutting-edge solutions to leverage modern technology and digital payment infrastructure. Opus is now better positioned than ever before to be a valued partner to clients and drive their growth journey. Our clients recognise the merits of having an agile and innovative technology partner and the value this creates for their customers. They are as excited as we are about our expanded role as Opus Technologies and look to us to continue forging new paths in an ever-evolving industry.
How important is innovation in your longer-term vision and does it influence your company’s success?
Innovation takes centre stage at Opus. That’s why we’ve achieved numerous industry “FIRSTS”, including implementing payment switches in leading banks and developing payment gateways in the US.
Over the last decade, the payments industry has evolved much faster than customer expectations and has been the epicenter of digital transformation. Payment solutions are not laggards, but influencers of customer behaviour. Customers could not have imagined, let alone expected, embedded finance and credit at their fingertips with buy now, pay later (BNPL). These are some of the most exciting innovations and Opus has played a pivotal role in the adoption of these innovative solutions.
Innovation is what keeps Opus in the limelight and allows us to spearhead the transformation of the payments landscape.
What are your plans for the company after the rebranding initiative is completed?
The plan is to support Opus’ phenomenal growth. We achieved explosive growth last year and in the first half of 2023. The focus is now on ensuring elevated growth levels in 2023 and beyond.
We have onboarded some new global clients, launched our next stacks of innovative payment and banking solutions, and opened new offices. Opus also has ambitious hiring plans, targeting 50% growth in our workforce. Our plans include purchasing a niche technology company to enhance our product portfolio and entering new markets to expand our footprint.
Looking ahead, which technologies hold the most potential for the payments space?
AI is undoubtedly the most promising technology that will shape money movement and customer experience in the future. Integrating artificial intelligence (AI) into payments has far-reaching benefits, including automating processes, reducing costs, optimising transaction routing, and developing new and improved products.
With our AI-first, cloud-first approach, Opus Technologies will continue modernising payment platforms to build up this next phase of evolution.
Sponsored by Opus