Ondot Systems, a global leader in mobile payment services, launched its new digital card services platform today. An end-to-end service, this offering will take care of invitation & acquisition of customers, instant issuance of cards, secure payments and daily purchase interactions as well. Deployed on the next-generation machine learning driven engine, Ondot’s digital card service platform enables Asian Banks to transform their life-cycle of customer engagement by empowering customers to self-serve instant cards issuance, secure & autonomous online payments, payment card controls, personalized user journeys, effective spend management and location intelligence-based services.

Speaking on the occasion, Rachna Ahlawat, Executive Vice President, Ondot, says, “In Asia, there is growing, untapped consumer demand for digitalized, mobile-first experiences throughout the banking and payment journey. The race to become the top digital bank in the region is on, and big banks are partnering with FinTech companies to accelerate digital transformation at every step of the customer's journey. With our next-generation digital card services platform, Ondot is building on our track record to help banks delight existing customers and attract new ones, whilst keeping fraud and operation costs under control”.

Founded in the year 2011, Ondot System brings mature and market leading solutions to the Asian market, as the region demands mobile-first and on-the-go banking solutions. Serving across 4,000 financial institutions across four continents, this digital card, payment and mobility company leads the way in powering mobile payment services and its real-time platform gives financial institutions an edge in the competitive industry. Ondot has also raised $51 million in four funding rounds so far, with the latest round being a Corporate Funding Round of an undisclosed amount from Citi Ventures last month.

On Ondot’s new platform, customers are guided by chatbots through an interactive KYU application completion process. Upon approval, an instant digital card is issued to the user with a digital wallet usage provision, and this card can be used to purchase and transact within a few minutes.

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