The financial sector in India is growing at a rate of 8.5% pa, creating stiffening competition and ever-accelerating development need. Finance sector organisations are broadening their product portfolios and offering tailored solutions, even for narrow customer segments. The result is lower production scale for some products. Hence, the need for modular technology platforms, to manage such broadened product portfolios at acceptable cost and effort.

Modular technology platforms enable the right product development model by combining the concepts of product development and modularity. Such platforms determine how a development organization develops products. They also help ensure that standard modules as well as platform rules are used with actual products.

Strategic adoption of a modular technology platforms

Historically, companies have developed most products by taking a project approach which requires temporarily pulling together a team of specialists working towards a common goal. These project teams would develop the new product completely from scratch, utilizing existing modules, drawings, and other resources only occasionally. This has given a complete creative liberty to project teams for developing very distinct products, thus reducing the standardization in the product portfolio. 

Modular technology platforms, on the other hand require module experts to work independently on their respective specializations. This enables usage of same platform modules across projects, with minimal customization required, thus increasing standardization and reducing cost of implementation. Since a dedicated team of specialists is not required, it also leads to increased concurrency for product development, meaning that multiple projects can be simultaneously worked upon leading to faster deployments. When teams operate in continuous cycles using the same modules, it also becomes easier to implement best organisational practices and better governance, bringing standardization in operations as well, in addition to product designs.

Hence, operating a modular platform gives unprecedented advantage to smaller companies looking to diversify their portfolio. With a modular platform such as Decimal’s Vahana, they can quickly develop product families and continuously improve them. UI, middleware and analytics can be parallelly worked upon and improved. For example, integrating a new API into Vahana’s vConnect (Middleware) makes it available across all projects going-on in the platform. This reduces the TCO and gives much more flexibility in product improvement to the companies and they are able to develop highly dynamic and adaptable systems for customer engagement.

Source: McKinsey

Decimal’s Vahana Platform

We at Decimal have developed our own Modular Technology Platform called Vahana. This comes fully equipped with modules for application design (vDesigner), middleware layer (vConnect), rule engine, Analytics module and even an API marketplace (vHub). All our solutions are implemented using this platform, allowing us to reduce our project delivery times and offering reduced upfront costs and TCOs to our clients. The platform as such is also available for our clients to use and adopt into their infra stack and it aims to majorly improve and standardize their product implementations.

The Vahana platform has become the cornerstone of our delivery methodology helping us deliver critical projects and solutions in a time-sensitive manner. Be it, quickly implementing the SA Customer onboarding journey (including Video KYC) for a major private Indian bank during demonetization or be it, implementing a sourcing-to-in-principle decision journey having 100+ integration checkpoints for a major NBFC or even implementation of Video KYC solutions for our clients as per RBI guidelines, the Vahana platform has been at the core of all our implementations.

Write to us at sales@decimal.co.in to know how we can help in enhancing your portfolio using our Modular Technology Platform, Vahana.