Innoviti & RBL Bank Partnered to set up Omnium, a Payment Platform for Progressive Retailers

Current Context: On 27th February 2024, Innoviti Technologies Pvt. Ltd., India’s largest payments-based SaaS tools company, and RBL Bank, one of India’s leading private sector banks, have partnered to set up a state-of-the-art omnichannel payments platform called Omnium.

• This platform aims to unlock value hidden in a retailer’s data and business processes, helping them grow faster and with lesser efforts.
• Omnium integrates with RBL Bank’s modern banking and payment Application Programming Interfaces (APIs), enabling a fast, seamless, and secure payment integration.
• Omnium allows the retailer to integrate their business processes across HR, ERP, and marketing platforms with payment events to enable a precise measurement of their impact.
• It also enables consumer journeys that cut across online and offline consumer touchpoints.
• Key features of Omnium include product-specific payment promotions, price and promotion benchmarking, real-time attribution of transactions to promotion, and budget sharing through collaborative and targeted promotions.

Question:

Q.1 What is the main aim of the Omnium platform?
a. To provide online banking services
b. To provide insurance services to retailers
c. To provide loans to retailers
d. To unlock value hidden in a retailer’s data and business processes