Fractal plans another center in India

By agencies   |   Thursday, 03 November 2005, 20:30 IST
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HYDERABAD: Fractal Analytics Ltd, a business intelligence and analytics services provider for the banking, insurance and telecom sectors, is planning to go for another global delivery center in India, possibly in Hyderabad or Bangalore. Announcing this the company’s Vice-President, based in Mumbai, Ramakrishna Reddy Dasari said that Fractal Analytics is operating in high-end analytics area and partners over 40 banks and telecom companies across the globe. He said, “We simplify the large data created by banks and telecom companies by mining them using statistical modeling tools. These data thus helps banks and financial institutions and insurance companies to offer customized products and services.” “The company was funded by a private entrepreneur. All its growth over the last five years has been through internal accruals and the company has become cash positive. We expect to notch up about $10-11 million in revenues within two years,” Reddy added. On company’s expansion plan he said, “Our expansion strategy is pretty cautious and we are not increasing numbers for numbers sake. We may consider a public float within two years,” he said. The company has worked with six of the top 10 banks in Asia, with three of the top five credit card issuers in India, apart from clients across the U.S. and West Asia. Out of company’s total revenue India holds about 30 percent share, the Asia-Pacific region 50 percent and the U.S. about 20 percent. Reddy said, the banks or telecom companies provide raw data and leverage our analytics capability to analyze the data thus gathered to offer new solutions. “Areas such as risk analytics solutions, marketing analytics solutions and basic analytics help banks better manage their clients. With the Basel II norms set to come in, even the regulatory compliance issues will force the banks to take to such solutions,” he added.