Wibmo is a prominent full-stack PayTech firm specialising in payment security, digital payments, and financial services. Their state-of-the-art solutions are driving growth for banks, fintechs, and businesses worldwide. With a strong foundation and a commitment to innovation, the company has been an industry trailblazer. Wibmo was acquired by PayU in 2019 and the organization plays a pivotal role in strengthening digital transactions through its capabilities and the company is also expanding its global reach.
In an era where digital transactions are skyrocketing, Wibmo is setting new benchmarks in security and efficiency through cutting-edge technologies like AI, machine learning, and GenAI.
In an exclusive interview with Express Computer, Sudhindra Magadi, CTO of Wibmo, a PayU company, shares insights on the future of digital payments.
“We are committed to ensuring that digital payments are not just seamless but also highly secure,” says Sudhindra Magadi, adding further, “By leveraging AI and machine learning, we can analyse vast amounts of transaction data in real time to detect and prevent fraud before it occurs.”
Wibmo’s Trident FRM/AML system is a prime example of this innovation, enabling major banks to proactively detect anomalies and fraudulent transactions in real-time.
Beyond fraud detection, GenAI is transforming internal efficiencies. “We are seeing remarkable improvements in our operations thanks to GenAI. It allows us to automate complex processes, optimise workflows, and enhance decision-making across the organisation,” Magadi explains.
Scaling and securing Wibmo’s payment infrastructure
With digital transactions surging, maintaining a scalable and secure payment ecosystem is a top priority. Wibmo has embraced a cloud-first approach to ensure both resilience and scalability.
“Wibmo’s cloud-based infrastructure provides the flexibility to scale on demand, ensuring high availability and uninterrupted services for our customers,” says Magadi. “Microservices architecture allows us to scale individual components as needed, improving agility and efficiency,” he points out.
Security remains paramount. “Strong authentication mechanisms, data encryption, and rigorous security audits are non-negotiable for us,” he emphasises, and informs that they continuously monitor their systems, conduct penetration testing, and adhere to global security standards like PCI DSS to stay ahead of potential threats.
Transforming operations through cloud adoption
Wibmo’s adoption of cloud technologies has revolutionised its operations, streamlining processes and improving efficiency.
“Cloud adoption has allowed us to move away from traditional infrastructure management and focus on innovation. By embracing microservices, containerisation with Kubernetes, and Infrastructure as Code, we have significantly improved our agility,” shares Magadi.
The impact has been profound. “Elastic cloud scalability means we can dynamically allocate resources based on demand, reducing costs and improving system responsiveness. This translates into faster go-to-market times and a sharper focus on core business functions,” he adds.
Fighting financial crime with AI-powered fraud detection
As financial crimes grow more sophisticated, Wibmo is staying ahead of the curve with AI-driven fraud detection mechanisms.
“Our real-time transaction monitoring system, Trident FRM/AML, uses adaptive AI to build behavioural profiles for users. This helps us detect not only known fraud patterns but also emerging threats through anomaly detection,” explains Magadi, adding that they are continuously evolving their fraud prevention techniques to outpace cybercriminals.
Ensuring compliance without compromising user experience
Compliance with global regulatory standards is a complex yet crucial aspect of digital payments. Wibmo ensures adherence to PCI DSS, GDPR, and PSD2 while maintaining a seamless user experience.
“We believe in security and privacy by design. Tokenization and encryption protect sensitive data, while our strict access controls and continuous security assessments ensure we remain compliant with industry regulations,” says Magadi.
Wibmo’s proactive approach includes regular security audits, strong password policies, and an incident response plan. “Compliance is not a one-time effort; it’s an ongoing process of improvement,” he states.
The future of secure digital payments
Looking ahead, Magadi sees biometric authentication, tokenization, and zero-trust security models playing a pivotal role in securing digital transactions.
“Biometric authentication is a game-changer,” he notes, adding that it provides an additional layer of security by using unique biological traits that cannot be replicated.
Tokenization further minimises the risk of data breaches by replacing sensitive payment information with secure tokens. Meanwhile, the zero-trust model ensures continuous verification of users and devices, eliminating the concept of implicit trust within networks.
“These technologies, when combined, create a robust security framework that enhances user trust and drives innovation in digital payments,” Magadi asserts.
Cross-industry experience: A unique perspective on fintech
With a background spanning banking, pharmaceuticals, and data centre automation, Magadi brings a wealth of cross-industry insights to fintech.
“My experience across industries has given me a broader perspective on automation, security, and customer-centric innovation,” he shares. “In banking, security and compliance are paramount. In the pharmaceutical industry, data integrity is critical. And in data centre automation, efficiency is key. Bringing these elements together has helped us create a fintech ecosystem that is not only secure and scalable but also highly customer-focused,” avers Magadi.
Under Sudhindra Magadi’s leadership, Wibmo is at the forefront of shaping the future of digital payments. By embracing AI, cloud technologies, and cross-industry best practices, Wibmo is redefining security, scalability, and efficiency in the fintech space. With a relentless focus on innovation and customer trust, Wibmo continues to drive the evolution of digital transactions into a safer and more seamless experience for all.
