Lokesh Gupta | Co-Founder & CTO | RM Applications

RM Applications: Your Trusted Payment & Data Management Technology Solution Partner

The human mind is a complicated thing. It is organized to resolve queries and doesn’t like when things are lying around. It seeks shortcuts and distinctive methods to propose a solution in any case of predicament. And as far as the technology is concerned, the human mind constructs and spends time on updating and enhancing it to the farthest level. Whenever any conflict mounts, it questions itself, “Why it can’t be done”?

The same question describes the identity of our next innovator, which is based out of Kuala Lumpur, Malaysia. We bring forth RM Applications (RMA), a boutique software company founded by a group of experienced and like-minded professionals.

RMA commenced its journey around this said question to venture into the development of bespoke solutions. To describe in layman’s term, the passion and vision to strive for excellence by delivering comprehensive along with customer-oriented is what drives RMA.

The team— RMATEs —is passionate about technology, modern ideas, and lives on the brink of bringing innovative solutions to serve customers in Digital Payments, Data Science, Data Mart & Modelling and Analytics Landscape. Adding to that, Remittance & Payment, Data Management (Developing Bespoke Data Marts for Basel 3, IFRS9, ALM, FTP, IRRBB Reporting), Analytics and Regulatory Reporting is part of RMA’s larger vertical focusing on providing bespoke solutions in the areas of Domestic & Cross Border Payments and bespoke DataMart development.

Major Takeaways

  • An ISO Certification 9001:2015 company
  • Footprints across Malaysia, Indonesia, Singapore, Thailand, Philippines and plans to expand further
  • Established partners in leading technology and Solution Providers such as FIS, Unscramble (Machine Learning Analytics and Chatbots), MongoDB, amongst others
  • Launched Islamic Centre for Emerging Technologies (ICET), initiating research towards the development of modern products with modern technology in Chatbot in Islamic Finance, Chatbot in Islamic Investment, and Artificial Shariah Intelligence for Product Screening

Meet the Innovator

The motorist behind the wheels of RMA is its Co-founder and CTO, Lokesh Gupta. He brings 18 years of experience in Designing, Developing, and Implementing Solutions. He leverages the experience in the areas of Payments, Remittance, Digital Channels, Data Management, Regulatory Reporting, Analytics and, Project management.

At present, Mr. Gupta has kept his keen eyes on the Asset Liability Management, Interest Rate Risk in Banking Books, Basel III, Risk and, Regulatory Reporting Data Mart Development as well as Remittance & Payments Solution implementations in the region.

He has also co-authored many books in Islamic Finance and has published papers in various magazines. His latest book “Fintech and Islamic Finance: Digitalization, Development and Disruption” has been listed under “21 Best New Fintech Books To Read In 2020” by BookAuthority.

Offering Bespoke Solutions

As previously mentioned, RMA has unyielding roots in Digital Payments, Data Science, Data Mart & Modelling, and Analytics Landscape. With such solutions, RMA addresses pain points, niche requirements, and provides seamless integration.

Remittance & Payment Solution (OmniRemit)

Built around the experience of founders, this solution offers customers ease of access through digital channels such as online, mobile, and branch-based channels.

Data Management Solution (OmniData)

A collaboration with partners where RMA provides Data Management Solution for ALM (Asset Liability Management), Basel 3, FTP (Fund Transfer Pricing) and other Regulatory Reporting.

  • Bespoke DataMart Development: Makes the semi-processed data available, which can be directly fed into the Risk and Regulatory Reporting engine to generate the reports and for analytics
  • Analytics, BI & Reports Development: Development of customized Reporting, Dashboards & Alerting solution for various Business Verticals
  • Data Migration: For migrating data to and from most widely used commercial databases (both homogeneous and heterogeneous)

A Strong Hold in Tech Industry

Sharing his viewpoint on the industry, Mr. Gupta shares, “Business is all about relationships and trust which got to be earned, and we can’t just demand it.” As such, RMA got a firm grip on the industry with its capabilities and delivering customer-centric solutions. “This is the core strategy, which helps us in meeting our customers’ expectations.”

He continues with, “We listen to what customers want, get insights into their expectations and accordingly design and deliver our solutions. We believe in building simple and customer-driven solutions with an emphasis on digitalization of data, workflow process, reporting, amongst others. Beyond our solution delivery, we take customer support very seriously, which is an important post-implementation.”

What lies ahead of RMA?

RMA has always stuck to its core philosophy; to enable its customer to meet their expectation by building an enormous amount of trust, faith and respect. As such, the firm will continue to provide robust services with creativity, research, innovation, honesty, integrity, business ethics in all aspects of business functioning.

For forthcoming years, RMA aims to be expansive, both in terms of the broader product offerings and more widespread regional expansion. For 2020, RMA’s strategy is to:

  • Implement latest technology in current offerings
  • Blockchain integration with OmniRemit
  • Strengthening the product portfolio
  • Collaboration with customers, partners, and penetrate new market
  • Expansion into Islamic Fintech driven solution in cooperation with ICET

Mr. Gupta concludes with “We want to achieve a position where we are providing digital technology-driven solutions to move away from Cash-based payments to digital payments using advance hybrid technology with QR Based, Blockchain, and using Digital Wallets/Assets as a method of processing remittance and payments.”