How MatchMove Is Democratising The Mobile Payments Industry
India has achieved the second spot globally with the largest number of financial technology (Fintech) startups.  The growth in fintech sector is happening on the back of several macroeconomic factors such as digital payments infrastructure explosion, technology upgrades, mobile infrastructure, large population, among others. One such startup known as MatchMove is following a similar path and contributing to the larger goal of financial inclusion. Analytics India Magazine caught up with Kumar Srinivasan, CEO of MatchMove India to gain better insights on how the startup is striving to achieve a promising and innovative organisation in the financial sector. Headquartered in Singapore, MatchMove started as a gaming company in the early 2010 and eventually pivoted into a digital payments platform with the mission of being the global platform to move digital cash. The startup has raised a funding of over $50 million from its investors Vickers Venture partners and Credit Saiso. Tech Stack The technology stack at MatchMove is a combination of coding frameworks and languages like Java, CSS, PHP, NodeJS, GoLang, Python and Angular. Mostly the applications are designed on a service-oriented architecture, orchestrated using microservices, Kubernetes and CI/CD pipeline for deployments. For products development, MatchMove uses cloud technologies by leveraging AWS managed services which are deployable across multiple regions for HA and Data localisation requirements. Flagship Product Regarding the flagship product, MatchMove LightSpeed is a suite of multiple products and features which enables the clients to launch their own branded payments platform as well as enables them to build their own customised white-label app on the go and launch their virtual card instantly. Use Of AIML Artificial Intelligence and Machine Learning techniques play an important role while building customer relationships. The company uses AI-powered bots which assist the users to make balance enquiry, search historical data for any specific transaction with specific merchant while avoiding the hassle of looking through the entire statement(s) or previous transaction history. The developers at MatchMove use multiple data points to build an AI model which helps in predicting, enhancing accountability on Fraud and Regulatory Compliance like limits or KYC process and much more. In addition to traditional metrics that make up the credit rating, the AI-based platform also mines data from the internal spend/send transactions, social media, geolocations, etc. to find patterns that indicate credit-worthiness, the propensity to default and the likelihood of fraud, etc. in order to provide loan to borrowers. Currently, the product and engineering team includes around 70 people in total. Tackling the Talent Crunch According to Srinivasan, referrals from employees, partners or associates are considered as the most reliable hiring source at MatchMove. “For us, a candidate’s appreciation of our business purpose is very important, and a referred candidate already comes in well introduced to MatchMove. Beyond solid technical skills, we look for candidates with learnability, self-drive and heuristic agility,” he said. Future Roadmap The startup is rapidly expanding to other countries like India, Vietnam, Philippines, Indonesia, and other countries. As a future roadmap, MatchMove will build a number of value-added services on top of the generic platform of Lightspeed product which will help in solving several issues for various domains like corporate expenses management, shipping, payroll management, and much more.
India has achieved the second spot globally with the largest number of financial technology (Fintech) startups.  The growth in fintech sector is happening on the back of several macroeconomic factors such as digital payments infrastructure explosion, technology upgrades, mobile infrastructure, large population, among others. One such startup known as MatchMove is following a similar path […]
India has achieved the second spot globally with the largest number of financial technology (Fintech) startups. The growth in fintech sector
["Financial Services", "FinTech", "Startups"]
["artificial intelligence", "machine learning", "AWS", "AI", "ML", "RAG", "Financial Services", "microservices", "Aim", "Startups", "analytics", "FinTech", "kubernetes"]
["AI", "artificial intelligence", "machine learning", "ML", "analytics", "Aim", "RAG", "AWS", "kubernetes", "microservices"]
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