New Street Technologies

1 review

New Street Technologies offers MiFiX, a proprietary blockchain ecosystem built on Hyperledger, designed to revolutionize financial services by enhancing efficiency, security, and scalability. MiFiX provides a robust platform for financial institutions to streamline operations, reduce costs, and improve customer experiences. Key Features and Functionality: - Bank-Grade Security: MiFiX ensures top-tier security with Vulnerability Assessment and Penetration Testing (VAPT conducted by regulator-approved agencies. - ISO Certifications: The platform is ISO 9001 and ISO 27001 certified, reflecting its commitment to quality management and information security. - Multi-Party Scalability: MiFiX supports seamless collaboration among multiple parties, enhancing scalability and operational efficiency. - Independent Nodes: Each participant operates an independent node within their firewall, ensuring data privacy and security. - Distributed Process Optimization: The platform optimizes processes across distributed networks, reducing redundancies and improving performance. - Low-Touch Integration: MiFiX offers low-touch, multi-channel integration with core banking systems, facilitating smooth adoption and interoperability. - User-Configurable Smart Contracts: Users can configure smart contracts to implement complex product rules, enhancing flexibility and customization. - Expansive Data Lake: The platform includes a comprehensive data lake, enabling advanced data analytics and insights. - AI-Based Dashboards: MiFiX provides customizable, AI-driven dashboards for real-time monitoring and decision-making. Primary Value and Solutions: MiFiX addresses critical challenges in the financial sector by offering: - Enhanced Efficiency: The platform has demonstrated efficiency gains exceeding 500%, streamlining operations from customer origination to loan disbursement and collections. - Seamless Connectivity: MiFiX connects banks, non-banking financial companies (NBFCs, and other financial institutions with customers, business correspondents, direct selling agents (DSAs, field officers, branches, and third-party partners. - Comprehensive Functionality: The platform supports a wide range of financial services, including customer origination, KYC completion, loan underwriting, documentation, account opening, payment disbursement, collections management, reporting, and billing and settlement. By leveraging MiFiX, financial institutions can achieve significant operational improvements, enhance security, and deliver superior services to their clients.