Jocata GRID: Ecosystem Technology Platform for the Future of Financial Services

CIO Vendor Financial institutions are facing several headwinds with changing customer behaviour, rise of digital technologies and an ever-shifting risk and regulatory compliance landscape. In response, we are witnessing a period of unprecedented transformation, be it in the business model, the underlying technology, or even as fundamental as the role of the financial institution in the customer's life cycle. The ecosystem technology platform, Jocata GRIDTM, helps financial institutions accelerate business growth, streamline operations, provide risk-adjusted insights all while staying compliant with regulatory requirements.“The platform provides digital capabilities for financial institutions to reactto change immediately,efficiently and most importantly,profitably,”said Sundari Vedula, Head of Product Engineering, Jocata. As a simple example,Jocata GRID reduces the manual labour cost of verifying a customer during on-boarding by using a combination of 45+ digital data sources to cross-verify and authenticate information provided by the customer.

The Jocata GRID platform is designed as a multi-layered stack of technology capabilities that assist financial institutions in their digital transformation initiatives. Each capability layer answers a specific question in the transformation process being undertaken. First is a data aggregation layer powered by a stack of digital APIs to source and authenticate customer information digitally. It answers the question, "Do you source your data digitally". Information on a customer can be sourced in discrete elements such as identity, address, social, financial, legal as well as custom data from government sources and third-party information providers. This layer is followed by a data processing capability layer answering, "What do you want to do with your data?". Capabilities include OCR, rules-based underwriting, workflow, robotics and NLP. "What insights do you need from the data?" is answered by the third analytics capability layer which is a collection of high-performance rule engines, profiling engines, data visualisations and artificial intelligence algorithms. The presentation layer,which is the fourth
and final layer,allows contextual actionable intelligence to be delivered seamlessly across multiple channels such as IVR,websites, microsites and mobile apps. The presentation layer addresses the question, "How do you want to view your data?".

The capabilities of Jocata GRID are mapped to four discrete products: EVOKE, CLEAR, CENTRA and STAR. The Jocata GRID architecture allows for the products to be deployed individually or in specific combinations defined by the solution requirements of the Bank.

The ecosystem technology platform, Jocata GRIDTM,helps financial institutions accelerate business growth,streamline operations,provide risk-adjusted insights all while staying compliant with regulatory requirements

Leading global and Indian financial institutions have built solutions using products on the JocataGRID platform across Business(Digital Lending), Operations(M&A,KYC Remediation),Risk (ORM & EWS)and Compliance (KYC, AML& CFT, Fraud).The largest implementation to date supports a customer base of over 80 million customers with an average of 200 million transactions per month.

Jocata was selected as one of eight most innovative companies in Asia by a panel of global Banks in Accenture's FinTech Innovation Program in Hong Kong. As recognised subject matter experts, the founding team at Jocata are panellists /speakers at several global events including Startup bootcamp Fintech Lounge in London,the Mastercard Start Path Panel in Singapore, NASSCOM Business Excellence Risk Mitigation Series in India and the annual Anti-Money Laundering conference in India. Its demonstrated success over the past few years has made Jocata GRID platform a key technology component at many financial institutions.