Payments Guru Lakshmi Sushma Daggubati Transforms the Financial Industry

The global payments technology sector is evolving like never before - and Lakshmi Sushma Daggubati, commonly known as Sushma, is on the front line.

Payments technology and financial transaction services are undergoing a transformative phase, primarily driven by the integration of advanced technologies like blockchain, artificial intelligence (AI), and cloud computing. These innovations are crucial - they offer enhanced security, faster transaction speeds, and improved accessibility, revolutionizing the way businesses and consumers engage in financial transactions.

Blockchain technology, for instance, introduces decentralized ledgers, which increase transparency and reduce fraud. AI and machine learning algorithms are being employed to detect fraudulent activities and automate complex financial processes, making transactions more secure and efficient. And the shift towards digital and mobile payment solutions reflects a growing consumer demand for convenience and flexibility in financial transactions. This evolution is vital for improving customer experience and plays a significant role in expanding financial inclusion, so more individuals and businesses, especially in underbanked regions, can participate in the global economy.

But the industry would be left floundering - and bankrupt - without the world's finest minds making sure that these rapid advancements are properly integrated, and that the right solutions are being presented.

This is where fintech gurus like Sushma Daggubati are absolutely critical. This novel technology has to be conceived, developed, and implemented before it can do any good. And that's what she excels at. She is one of the bright minds shaping the future of commerce and finance as she designs brilliant new solutions to meet the changing needs of the market.

Sushma leads a vital role as a product manager, and her passion is creating innovative, tangible solutions to real-world problems. For over eight years, she has been at the forefront of the payments, leading cross-functional teams in the successful development of major products. She's a genius at designing effective product roadmaps; she can manage agile development cycles; and she’s known for her ability to identify and prioritize customer needs, then develop products to meet those needs.

Some of her finest ideas - which she holds patents on - include:

* Method and system for storage/transfer of verified data via blockchain - This method for verified data storage via blockchain involves storing blocks with headers and transaction values in the blockchain, receiving and validating transaction data, and then creating a new block. This new block includes a header with a current timestamp and reference values generated by hashing the latest block's header and the new transaction data. Finally, this new block is transmitted to a node in the blockchain network.

* Database system architecture for refund data harmonisation - The Refund Tracking (RT) computing device, equipped with a processor and memory, processes and analyzes transaction data for refund risk assessment. It receives and parses historical transaction data from various sources and formats, storing it in a structured format in a database. When current transaction data arrives from a merchant, the device retrieves relevant stored data, compares it to the current transaction, and calculates a refund risk score. This score, indicating the potential risk of refund for the transaction, is then sent to the merchant terminal for further action.

* Systems and methods for automatic bill enrollment - The Automatic Billing Enrollment (ABE) computing device automates merchant enrollment in a bill payment application. It processes a payment transaction, identifies the involved merchant, and checks if the merchant is already enrolled in a bill pay application linked to the cardholder's account. If not, the ABE device sends a message to the cardholder's device, offering an option to enroll the merchant. For enrollment, it gathers necessary merchant data and inputs it into the bill pay application.

Sushma's technological contributions in the realm of financial technology are having a major impact on the landscape of the industry. Her focus on enhancing payment technology and streamlining financial transaction services has been pivotal in driving innovation in a sector that is critical to global economic activity. Sushma's advanced solutions in transaction processing are key in addressing some of the primary challenges faced by the industry, such as security, speed, and efficiency of transactions.

She has worked in the commercial expense reporting and analytics programme at Mastercard, and is known for her ability to conceptualise and successfully implement technologies that can handle large transaction volumes while ensuring accuracy and compliance. This has been instrumental in making financial transactions more reliable and accessible, which benefits businesses and consumers alike.

Sushma is also renowned for her unique combination of technical expertise and visionary leadership. She has a strong background in computer science and engineering, plus an advanced education and multiple professional certifications, all of which have equipped her with a thorough understanding of both the technological and business aspects of financial services.

This dual perspective - incredibly rare in the industry - enables her to develop solutions that are both technically sound and also aligned with the market's needs. She's consistently sought after for major roles in pioneering projects due to her skill at driving innovation in complex and dynamic environments.

Sushma has served as a judge for the Webby Awards, primarily in the Financial Services/Banking sector. As a respected expert in her field, she has been called upon to peer review papers for HCI International 2024 and GamiFIN 2024.

As she pushes the envelope ever further, developing new products and patents and pursuing the development of AI-powered payment analysis tools, Sushma demonstrates both genius and strong leadership skills as she brings together and mentors some of the brightest minds in the field. Payments industry is changing rapidly, and it's going to take a new level of expertise to solve tomorrow's advanced problems; fortunately, we can turn to fintech and payments wizards like Sushma Daggubati to keep us updated.

Learn more: https://www.linkedin.com/in/sushmadaggubati/

Disclaimer: The thoughts expressed are those of the subject and not of the employer.