{"id":4480,"date":"2024-09-17T06:40:01","date_gmt":"2024-09-17T06:40:01","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=4480"},"modified":"2025-01-24T10:44:27","modified_gmt":"2025-01-24T10:44:27","slug":"razorpay-becomes-first-pa-to-launch-datasync-a-real-time-data-integration-platform-with-aws-and-snowflake-saves-up-to-50-on-operational-costs-for-indian-businesses","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/razorpay-becomes-first-pa-to-launch-datasync-a-real-time-data-integration-platform-with-aws-and-snowflake-saves-up-to-50-on-operational-costs-for-indian-businesses\/","title":{"rendered":"Razorpay Becomes First PA to Launch \u2018DataSync\u2019, A Real-time Data Integration Platform with AWS and Snowflake; Saves Up To 50% on Operational Costs for Indian Businesses"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Ensures 99.99% platform uptime and low latency for critical transaction data<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Committed to maintaining the highest standards of data privacy, ensuring that no personally identifiable information (PII) is transmitted or stored within the streaming process<\/span><\/i><\/li>\n<\/ul>\n<p><b>INDIA, Bengaluru &#8211; 17th September 2024: <\/b><span style=\"font-weight: 400;\">In its ongoing commitment to unlocking exponential growth for businesses,<\/span> <a href=\"https:\/\/razorpay.com\/\"><b>Razorpay<\/b><\/a><b> today launched DataSync, a no-code data integration platform<\/b><span style=\"font-weight: 400;\"> that aims to redefine the way businesses have been traditionally accessing and utilizing critical payment, transaction, refund, chargebacks and settlement data. Built on Amazon Redshift and the Snowflake AI Data Cloud, DataSync <\/span><b>will help businesses securely and easily integrate their financial and business data on Razorpay<\/b><span style=\"font-weight: 400;\">. This will enable businesses to leverage their data for deeper business intelligence, enhanced financial reporting, improved fraud &amp; security monitoring, and <\/span><b>generate new revenue ideas, turning payment data into a profit center<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a recent report by ACI Worldwide, 49% of all real-time transactions worldwide were made in India in 2023. <\/span><b>While the world of real-time payments is opening many doors for businesses today, it also presents significant challenges<\/b><span style=\"font-weight: 400;\"> in managing the resulting data such as inaccurate decision-making caused by outdated or incorrect data, leading to flawed strategies and suboptimal choices. Furthermore, operational inefficiencies arise from delayed access to critical transactional data, which impact the finance and accounting department&#8217;s ability to perform timely reconciliations and support efficient business operations. <\/span><b>These challenges can hinder a business&#8217;s agility and competitiveness, potentially resulting in missed opportunities and competitive disadvantages in fast-paced markets<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 500;\">As markets rapidly evolve, <\/span><b>the ability to leverage real-time data with minimal errors and operational inefficiencies has become essential for businesses to remain competitive. <\/b><span style=\"font-weight: 500;\">As <\/span><b>India\u2019s First <\/b><b>no-code, seamless data integration platform<\/b><b>, DataSync will help businesses make faster, data-driven decisions <\/b><b>by providing real-time information on transactions,<\/b><span style=\"font-weight: 500;\"> including &#8211; settlements, refunds, chargebacks, and reversals with <\/span><span style=\"font-weight: 500;\">robust security and minimal latency<\/span><span style=\"font-weight: 500;\">. <\/span><b>DataSync will help businesses save up to 50% in operational costs, improve fraud detection, and ensure 99.99% uptime with fast access to critical transaction data.<\/b><\/p>\n<p><b>Commenting on the launch of DataSync, Murali Brahmadesam, CTO &amp; Head of Engineering at Razorpay,<\/b><span style=\"font-weight: 400;\"> said, <\/span><i><span style=\"font-weight: 400;\">\u201cIn today\u2019s fast-paced world, businesses need access to real-time data to make informed decisions and stay ahead of the curve.<\/span><\/i><b><i> Embracing newer financial technologies like real-time payments has become a necessity,<\/i><\/b><i><span style=\"font-weight: 400;\"> as it enables businesses to provide seamless, on-demand experiences. Razorpay DataSync addresses this need by providing immediate, compliant, and secure access to critical data, enabling businesses to enhance their operational efficiency and strategic decision-making <\/span><\/i><b><i>Not only does DataSync prioritize efficiency, but it places a paramount emphasis on security. <\/i><\/b><i><span style=\"font-weight: 400;\">The platform is committed to maintaining the highest standards of data privacy, ensuring that no personally identifiable information (PII) is transmitted or stored within the streaming process. It&#8217;s an efficient data transfer, providing merchants with peace of mind without compromising on data integrity or privacy<\/span><\/i><span style=\"font-weight: 400;\">.\u201d<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cBusinesses today require analytics solutions that are secure, high-performing, and integrate disparate data sources seamlessly &#8211; all while operating at scale. We\u2019re thrilled to work with Razorpay to power DataSync, an innovative data integration solution that is designed to address these needs,\u201d <\/span><\/i><b><i>said V.G. Sundar Ram, Head of Business Development, AWS India and South Asia<\/i><\/b><i><span style=\"font-weight: 400;\">. \u201cBy harnessing the fully managed, analytics capabilities of Amazon Redshift, DataSync enables businesses to use their financial data and elevate reporting capabilities to derive actionable insights in real-time. At AWS, we are committed to empowering builders to innovate transformative solutions, and DataSync is a prime example of the endless possibilities when cloud scalability is combined with analytics and AI\/ML to achieve pioneering advancements.\u201d<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cWe are proud to collaborate with Razorpay in launching DataSync, enabling easy, seamless, and secure data sharing with various stakeholders, a reality. Built on Snowflake\u2019s AI Data Cloud, DataSync empowers Razorpay\u2019s customers to consume business-relevant data in real-time, reducing manual efforts, optimising total cost of ownership (TCO), and reducing processing time and errors, leading to faster decision-making. Furthermore, businesses can now explore AI and ML to build data-driven innovative solutions and products by aggregating all the data in one place,\u201d <\/span><\/i><b>said Vijayant Rai, Managing Director- India, Snowflake<\/b><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">DataSync employs stringent security protocols to ensure compliance and protect sensitive customer and business information, ensuring all data transactions remain secure against potential threats. <\/span><span style=\"font-weight: 400;\">The solution provides <\/span><b>a comprehensive suite of datasets <\/b><span style=\"font-weight: 400;\">enabling businesses to select their preferred data storage destinations. This streamlined approach has <\/span><b>eliminated the need for API integrations<\/b><span style=\"font-weight: 400;\"> or cumbersome <\/span><span style=\"font-weight: 400;\">report management, resulting in substantial time and cost savings.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">DataSync not only enhances operational capabilities for businesses but also demonstrates Razorpay\u2019s foresight and responsiveness to industry demands, solidifying its role as a trusted partner in their growth journey. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ensures 99.99% platform uptime and low latency for critical transaction data Committed to maintaining the highest standards of data privacy, ensuring that no personally identifiable information (PII) is transmitted or stored within the streaming process INDIA, Bengaluru &#8211; 17th September 2024: In its ongoing commitment to unlocking exponential growth for businesses, Razorpay today launched DataSync,<\/p>\n","protected":false},"author":14,"featured_media":4452,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[28],"tags":[167,166,33,165,164],"class_list":{"0":"post-4480","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-technology","8":"tag-amazon","9":"tag-aws","10":"tag-razorpay","11":"tag-razorpay-aws","12":"tag-razorpay-datasync"},"modified_by":"Anu Saraswat","_links":{"self":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/comments?post=4480"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4480\/revisions"}],"predecessor-version":[{"id":4481,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4480\/revisions\/4481"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media\/4452"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media?parent=4480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/categories?post=4480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/tags?post=4480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}