In its pursuit of transforming the Indian Banking, Financial Services, and Insurance (BFSI) market, a global solution provider is strategically tapping into the wealth of data generated by digital transactions. With a current revenue exposure of almost Rs 500 crore and a steady growth rate of 20%, this company is positioning itself as a key player in India, where over a quarter of its workforce is located.

Unlocking Potential: A Vision for Digital Transformation

The figures shed light on the company”s vision for the BFSI sector. They foresee a trajectory mirroring global success in digital transformation, particularly through innovative data-driven approaches.

Leveraging Data for Strategic Growth

The company”s role in aiding banks with digital transformation is emphasized, stressing the importance of tapping into the vast data generated by the 91 billion digital transactions reported by NPCI in 2022-2023. Data-Analytics and AI solutions are tailored to help financial institutions capitalize on this data, driving efficiency, enhancing customer experiences, and mitigating risks.

Fostering Financial Inclusion through Data-Driven Lending

The focus extends to addressing credit underserving, with 63% of the adult population lacking credit access, as per a TransUnion study. The commitment to fostering financial inclusion through AI-powered, data-driven lending solutions is outlined. These solutions aim to facilitate faster and more accurate credit decisions, turning the lending process into a journey of inclusion rather than exclusion.

Diverse Impact: Navigating Challenges and Exploring Opportunities

While challenges are acknowledged, it is pointed out that Indian partners are notably open to embracing new technologies. The company is actively collaborating with large banks in India, catering to over 72 million customers. The exciting prospects presented by India”s National Stock Exchange, one of the world”s largest in terms of trading volumes, are emphasized.

Strategic Acquisitions for Comprehensive Solutions

To address regulatory compliance, scarcity of data-science talent, and compatibility issues with legacy systems, strategic acquisitions have been pursued. Notable among these are offerings of advanced analytics and AI tools for digital lending compliance, facilitating enterprise-wide AI adoption, and addressing challenges associated with legacy systems.

Aggressive Growth Plans: India as a Strategic Market

Highlighted are aggressive growth plans for India, with a particular focus on product development. With India serving as a hub for skilled talent, there is an aim to capitalize on abundant resources, viewing the country as a strategic market for expansion.

Shaping the Future of Indian BFSI

The company”s concerted efforts in the Indian BFSI market underscore its commitment to driving digital transformation, overcoming challenges, and fostering financial inclusion through innovative, data-driven solutions. With a strong foothold and ambitious growth plans, it aims to play a role in shaping the future of banking and finance in India.