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Aavishkar 2021 – Tech Week Part 2

Aavishkar, the first ever technology week at Qwikcilver took place in the last week of February. i.e., 22nd February 2021 to 26th February 2021. It was a one-of-a-kind program for learning and sharing amazing technology related projects that our teams are working on. It included discussions by industry experts and insights from our valuable customers, showcasing cutting edge technology concepts and innovations, market trends & analysis and some fun contests and games too.
To know details of Day 1 , Click here.

Day 2

Sanjeev Kumar, CTO of Pine Labs, gave an overview of all the products of Pine labs and his journey in the company. Payment systems have evolved in the past 5-6 years due to the amplification and simplification of the process. Infra has been easy to set up these days and R&D has taken its turn in the payment sector.
Sanjay Tambwekar, CTO Qwikcilver and Jitendra Gupta, founder of Jupiter money had an amazing discussion about the Jupiter money. Jupiter money is the first and India’s only co-created banking experience dedicated to millennials and designed around their lifestyles. Neo banking is innovative in western market. In the digital world, there is no traditional banking cost structure. Depending on the balances, the cost structure is same irrespectively, which is the low-cost structure. This means there is no need to play more people to service more accounts. This is where the whole new way of banking took birth. It is a new way of banking where customers are put first or at centre. The target market for Jupiter is anybody who has a smartphone. Segment is mainly of young consumers, typically in the first job, second job earning anywhere from 30k per month to 2-3 lakhs per month as this segment is more underserved by banks.
When asked about the differentiation of Jupiter from what traditional banks offers. Jitendra Gupta said, “The bank apps are exact replica of typical bank branch, where the younger generation may not know the meaning of the options provided. Keeping the end consumer in mind, it is possible to build the ground up by providing what consumers expect. It aims at less spamming and providing more personalised more contextualized interactions which are related to the life event.””
When a consumer has scenario of holding 3 or 4 bank accounts, they use one account as primary and just keep checking balances of other accounts. In the Jupiter account you need not go to other banking apps altogether. Only balances are aggregated into Jupiter app and balances can be only checked and money transfer is possible using UPI rails.
Monetisation model of Jupiter money is simple, it is a two-fold: one in fee based and other is transactional based. Subsidizing fee items, charges around banking, card issuance are its monetary models. Additionally, Jupiter introduces subscription which may provide additional benefits to the consumer.
Ajay Sukumaran, Vice President Retail Distribution, Qwikcilver, gave a consumer perspective of Shoppers Stop & Future group and touched upon a learning curve from both Qwikcilver and Shopper Stop perspective when gift card as a category had taken off in Indian market. For the Future group he discussed the challenges of managing a program for promoter run retail conglomerate and also discussed wallet as consumer loyalty solution. Wallet solution can do payments, communication to customers, advertise & earn revenues, coupons, and promo management, links all loyalty and program store multiple currencies.
As UI application continuously evolve the challenges in testing them effectively across platforms with speed, reliability and agility also multiplies. Next gen testing techniques should mitigate the challenges faced in traditional test strategies and allow us to scale testing exponentially. Raja Selvaraj, Senior Technical Manager Woohoo Engineering, Qwikcilver, session focused on one such approach; introducing visual testing in a highly scalable infrastructure aided by Machine Learning driven algorithm to address future UI testing needs with high quality and speed. He explained the visual automation testing process workflow and steps to be taken to achieve this. He explained the tools available to test all browsers application at the same time as “Demand (time+ resource) = cost”. This next gen technique can help achieve the desired result cost effectively, increase test coverage and find the unexpected issues, reduce test creation & maintenance, and speed up result analysis.
Data is the new oil. It controls everything around you. Every organization around us have a new interest in data and with that also comes the new controls and new evaluation of data. Today data has become a primary asset of any organization. Roopesh V P, Principal Engineer Data Services, Qwikcilver, talked about how we built a data warehouse in Qwikcilver following co-principles of data management. Data warehouse is a set of design principles applied at modelling, load, storage and consumption of data. The entire process, quantity and its maintenance were all neatly explained.
Mahanand Jha, General Manager and Prem Kumar Venugopal, General Manager, Infosec and Data Privacy team, Qwikcilver, touched upon cyber security threats, the ways to detect and prevent them and ensure that our organization data is protected. Shared few examples of data breaches and its consequences. Data breach impact can be – fines and penalties, loss of trust and reputation, loss in business. Causes for data breach are weak and stolen credentials, backdoor, application vulnerabilities, Malware, insider threats and third-party vendor. The ways to reduce the risk of data breaches are: Up-to-date security software, regular risk assessment, encryption and data backup, staff training and awareness, ensure vendors and partners maintain high data protection standards and third-party data security evaluations. Cyber security classifications, its detection and prevention were also discussed.“Information security is a shared responsibility”.
Lokesh Godara from Pine Labs addressed a session on AllTap ePOS security and certification. AllTap is a secure application on a merchant’s COTS device to capture and process account data read by the NFC reader on COTS device. It is the first solution in India approved by all payment schemes like Mastercard, Visa, Amex, Rupay for credit & debit cards acceptance. AllTap app helps the merchants to manage all type of payment transactions. It empowers merchants to perform card transactions through their android smart phones. This can be achieved by converting merchant phones into ePOS. Merchant can be self-onboarded within 15 minutes through this app. This is the future device helping all the small and medium merchants to digitalize their payments without investing more cost and time.
To know more about Aavishkar 2021 further events , Click here.

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