RS Software – Will they pay investors too?

Questions for AGM on 10th July 2024

Hi Everyone

Example of another solid collaboration exercise done by some VP members tracking RSSL.
Let’s try and get answers from RS Software Management in a structured way. Anyone who gets an Opportunity to ask questions at the AGM, please pick a few from here. Also looking forward to add more questions to this list. Request active Collaboration from all interested/tracking/invested.
[for the moment, let’s keep aside the past experiences and be open to asking the right questions ]

1. 46% of global real time payments processed on platforms built exclusively by RS Software – is a claim made by RSSL in some of the official videos. Is this taking into account only UPI? What other platforms if any, are we referring to here.

2. The outsourced services for VISA’s card platform. Please help us understand the genesis of that seemingly very strong relationship. Apart from RS core competence validation, what were the contributing factors – How was respect for Visa’s IP validated by them for that kind of trust to be built up.

3. Why did RSSL win the initial UPI Tender? As many as 70 plus Vendors had probably responded for the RFI/RFP included global biggies in payments domain like FICO, FIS, ACI, NIce Actimise. What were the contributing factors for that win against what one could term as overwhelming odds?

4. Is it fair to say IntelliEdge EFRM is RSSL core strength, and the one single product that uniquely differentiates and benchmarks you as among the best in the world? Please take us through that journey right from the initial days with VISA on Risk and Fraud Management.

5. Apart from meeting high availability and scalability requirements, The UPI experience has obviously bolstered product IP. How much richer has Data Stream Analytics incrementally grown – from rules based predictive patterns learning base to AI and deep machine learning enabled detection of fraud on real time transaction basis. What did UPI experience add to the product/IP

6. Please talk about your Sales Process/Consultative Selling? Go-to-Market partnerships needed to Target customers at Large Banks/FIs and Fintechs in export markets like US, Canada, UK and Europe. Vendor registration must be a regulatory requirement of Central Banks also (just like RBI’s) so that they can intervene when needed or question sustainability of individual vendors. Do you have vendor registrations with small/large Banks and FIs in these markets already? When talks proceed to an advanced stage with customers, do they help expedite the registration process?

Or, the way forward is go-to-market partnerships with the right Partners in each country/region?

6. Please talk about a few of these partnerships in US, Canada, UK, Europe. Are these the Accentures of the world and/or more payments domain focused consulting firms. Why cant TCS, Infosys and other Indian IT majors – who probably already have all the required vendor registrations, be your natural go-to-market partners for Banks/FIs in every market?

7. UPI Tenders mandate the sharing the Source Code. How are they maintained securely.?

8. In the Initial years till the 2023 next version of UPI, RSSL owned the IP rights, while Data was owned always by NPCI. Now IP is co-shared with NPCI. What are the implications for this? Does it mean NPCI is free to choose to develop this further in-house and/or go with other vendors as they choose.

9. Current share of licensed product sale vs Solutions Sales is 60:40? Can you please elaborate more on the product licensing terms. How are these structured? Are there multi-year licenses or perennial? Has it become a mandatory requirement for Sales to any Central Bank/Central Infrastructure to a Country (like NPCI in India) for vendors to give away the source Code? Does the IP also need to be shared? What has been the experience so far.

10. Is it a correct inference that other than Central Bank/Central Infrastructure Sales – the product License IP rights are always owned ONLY by RSSL? No shared IP Sales?

(will be adding more later in the day, as I compile from VP Collaborators)